WHAT IS CULTIVATE?
Cultivate is an Agri Lending product that provides short to medium term finance built specifically around the growing needs of our farming members. Cultivate is our newest lending product that enables us to help our farming members develop and future proof their business by providing quick and easy access to finance – borrow up to €50,000 for up to 7 years at a variable interest rate of 6.55%, typical APR 6.75%.
THE CULTIVATE LOAN IS IDEAL FOR FARMERS WHO WISH TO…
- Invest in new or second-hand machinery
- Upgrade building and facilities
- Purchase additional livestock
- Access working capital for periods when cashflow is under pressure
CULTIVATE LOAN RATE
Maximum loan amount: €50,000 (unsecured)
Loan Term: 1 to 7 years
APR: 6.75% APR
WHY CHOOSE CULTIVATE
- Flexible repayments
- Loan Protection Insurance provided at no extra cost. If the borrower dies the loan is cleared (subject to terms and conditions, age and health restrictions)
- Interest is charged on the reducing balance of the loan
- No penalties for early repayment
- No transaction, administration or set up costs
DOCUMENTS YOU NEED TO APPLY FOR A CULTIVATE LOAN
- Agri Lending Fact Find
- Most recent 2 year’s certified/audited accounts
- Confirmation from accountant that tax affairs are up to date
- Notice of assessment from revenue (acknowledgement of Form 11 or Chapter 4 self-assessment statement)
- Business Plan & Projections for loans greater than €25,000
- Personal bank statements for last 3 months & farm bank statement for last 6 months
- Statement of direct payments
- Last milk statement for the previous year (dairy farmers)
- Confirmation of TAMS grant (where applicable)
- Evidence of non-farm income
HOW TO APPLY FOR A CULTIVATE LOAN
If you are already a member of St. Canice’s Credit Union and would like to enquire about a Cultivate loan, just
Complete the Loan Enquiry Form
Call 056 772 2042
Drop into your local branch
We have branches in Kilkenny city, Bagenalstown, Ballyragget, Callan, Durrow, Graignamanagh, Piltown, Rathdowney and Mountrath.
NOT YET A MEMBER? NOT A PROBLEM…
YOU CAN OPEN YOUR ACCOUNT AND APPLY FOR A CULTIVATE LOAN ON THE SAME DAY.
- Open your account online or call into your local branch.
- Documents you need to open an account in St. Canice’s Credit Union
- Further Cultivate information can be found on: www.cultivate-cu.ie
All loans are subject to approval, terms and conditions apply.