Bank of Ireland is encouraging farmers to use its new cashflow management guide amid unfavourable weather and volatile market conditions.
The bank’s team of advisers will be attending this year’s National Ploughing Championships to engage directly with customers and industry stakeholders, and the guide has been published ahead of the event in two weeks time.
The document highlights the importance of early cashflow problem recognition, the need to seek advice and take action upon identifying a problem, understanding your debt levels, examining practical solutions inside the farmgate, and creating a sustainable financial plan with expert advice.
Bank of Ireland has more than 82,000 farm customers on its books and said it is keenly aware of the issues faced by farmers, including dealing with cash flow challenges and meeting sustainability demands.
The company said it stands ready to support farmers who are looking to invest in additional slurry storage; refinance recent on-farm cash investments; access finance for land purchases; install solar energy panels to reduce costs; and …