Irish processor negotiates lower cost loans for its suppliers

Published 3 August 16

Irish cooperative Dairygold, announced last week that it had negotiated new low cost loans for its milk suppliers with some of Ireland’s banks. The loans can be used for ongoing expansion with interest rates of around 4.1% and 4.5%. Suppliers can apply for a credit line facility to aid with cash flow with an interest rate of less than 4%. Currently interest rates for a current account overdraft facility in Ireland are around 12% or higher.