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19 Aug 2022

Cultivate Credit Union loans available in Kilkenny as fertiliser prices rise

Kilkenny Kilkenny Kilkenny

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With soaring input prices across the agricultural sector, particularly in relation to fertiliser, farmers will need access to increased levels of working capital this Spring.


Farmers across Kilkenny are facing into a period of price inflation and increased uncertainty.
Cultivate, which provides farm loans from the credit union, is helping to address this working capital challenge. Cultivate is collaborating with independent local agri merchants nationwide to provide additional credit to farmers following this dramatic increase in fertiliser prices.


While everyone hopes that this is a short-term issue, additional supports are now needed. Credit unions including St. Canice’s Credit Union are stepping up to support local farmers who are looking to access a credit facility by offering a working capital loan to manage their cashflow this Spring.


Tom McWey, from St. Canice’s, commented on the increased costs being experienced by farmers: “The rising cost of fertiliser is the main topic of conversation in farming for the past few months. We hope that while the increased cost of fertiliser will be short-lived, we know that many farmers are finding it tough to respond to these price hikes. The Cultivate loan from our credit union can be used as part of the solution for farmers who are struggling to finance the purchase of fertiliser this Spring.”


Joe Healy, former President of the IFA and now Chairperson of Cultivate, said: “This is good news for the agriculture sector. It’s an initiative that will be of benefit to both farmers and merchants.”


With a Cultivate Credit Union loan, farmers in Kilkenny are increasingly able to benefit from the local decision making and personal service offered by St. Canice’s. Cultivate offers local farmers the opportunity to talk with people who understand farming and to agree a financial package that is tailored to best suit the needs of the farmer and their farming enterprise.


Mr McWey said: “We understand the vital importance of fertiliser each Spring and the difficulties that the increased cost will have on farmers. St. Canice’s is here to support our farming members in this time of turbulence. Cultivate loans are unsecured loans of up to €50,000.”
To find out more about a Cultivate loan go to www.Cultivate-CU.ie or call Tom on 086 4400582.

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