Working Capital for Agriculture

Cultivate credit union loans available for working capital as fertiliser prices increase

With input prices expected to rise across the agricultural sector, there will be an increase in working capital requirements at farm level in 2022. Farmers across county Louth are facing into a period of increased costs with fertiliser prices expected to increase by up to and, in some cases, over 100% and feed costs are up by 30%.

Cultivate Credit Unions are continuing to support Irish farmers who are looking for access to an increased level of working capital to manage this challenging period. Cultivate loans are a source of farmer friendly finance provided by 117 credit union locations throughout Ireland.

Tom Kiely, from Drogheda Credit Union, commented on the increased costs being experienced by farmers, “We are encouraging our farmer members to act early and identify whether they may have a cashflow challenge in 2022. Analyse your fertiliser and feed costs for 2021 and then estimate what you expect your likely 2022 spend to be. This will allow you to see relatively quickly whether you will need additional working capital in the Spring in particular.”

Commenting on the increased costs of building materials, Tom said, “We understand the importance of continued on-farm investment. Farms have to be developed to maintain the viability of the business. Cultivate loans are ideal for this investment as well as being ideal for farmers working capital needs or for the purchase of stock or machinery. Cultivate loans are unsecured loans of up to €50,000. For any farmer who wants to find out more about how to access a Cultivate loan, they can go to or call Drogheda Credit Union on 041 9838496.”

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