Latest Laois News: TAMS 3 Loan Applications from Laois Farmers sought by People First Credit Union

Latest Laois News: TAMS 3 Loan Applications from Laois Farmers sought by People First Credit Union

Laois Farmers, time to think about TAMS 3

Now is the time to start thinking about TAMS 3 applications with several investment schemes now open for applications under Tranche 1 of the new Targeted Agricultural Modernisation Scheme (TAMS 3). Farmers can now apply for funding under the Solar Capital Investment Scheme, Animal Welfare and Nutrient Storage Scheme (AWNSS) and the Organic Capital Investment Scheme. The remaining funding schemes will open on a phased basis through April and May. 

TAMS plays a fundamental role in the development of farms across Laois and throughout the country. A wide range of investments are covered under the scheme including sheds, slurry tanks, silage pits, meal bins, agtech products and livestock fencing. 

Speaking on behalf of People First Credit Union, Belinda Gyves, commented on the role of Cultivate finance in TAMS 3 applications,

“Our Lending Team in People First Credit Union understand the need for farmers to complete on-farm investments to ensure their farm can operate successfully into the future. TAMS 3 is a great opportunity for farmers to reduce the costs of developing their farm. We work with farmers across Laois and Kildare to provide them with the finance needed to carry out these investments. Take for example building works covered under the AWNSS. Our , Cultivate Agri loan can cover the cost of planning permission applications or provide a bridging loan until TAMS funding comes through as the Department will only pay out on paid invoices, after the works have been completed.” 

Farmers planning to apply for funding under any of the schemes in TAMS 3 are encouraged to contact their agricultural advisor to begin the application process. However, the scheme does not operate on a first come, first served basis; all applications go through a ranking and selection process after the closing date. While Tranche 1 will close for applications on 16th June 2023, Tranche 2 is expected to open the following day, 17th June 2023. 

Due to the surge in fertilizer prices so far in 2022 which has resulted in the cost of standard fertilizer products such as Urea spiralling to over €900/t - this is prompting serious fears of serious credit difficulties within the agri trade. Each year up to 1.5milion tonnes of fertilizer is purchased by Irish farmers at a cost of €500 million, the trend so far for this season looks like the price will increase dramatically.

For any farmer who wants to find out more about how to access a Cultivate Agri loan to  supplement their next TAMS application, they can visit or contact Belinda Gyves, People First Credit Union Business Development  089 468 6985