Written answers
Tuesday, 27 September 2022
Department of Agriculture, Food and the Marine
Agriculture Schemes
Kathleen Funchion (Carlow-Kilkenny, Sinn Fein)
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580. To ask the Minister for Agriculture, Food and the Marine the reason for the delay in issuing a single farm payment to a person (details supplied). [46617/22]
Charlie McConalogue (Donegal, Fianna Fail)
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The application from the person named under the 2021 Basic Payment scheme (formerly known as Single Farm payment) was submitted by his agent on 14th May 2021.
He has been fully paid in respect of his 2021 application. Payments under the 2022 scheme are due to commence in October 2022.
Matt Carthy (Cavan-Monaghan, Sinn Fein)
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581. To ask the Minister for Agriculture, Food and the Marine further to Parliamentary Question No. 2156 of 26 July 2022, the interest rates that are associated with each loan scheme funded by his Department through the Strategic Banking Corporation of Ireland; and if he will make a statement on the matter. [46633/22]
Charlie McConalogue (Donegal, Fianna Fail)
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My Department has worked with the Strategic Banking Corporation of Ireland (SBCI) to deliver a number of loan schemes that support SMEs in Ireland, including farmers, fishers and food businesses.
As requested, below is a table of the interest rates associated with each of the loan schemes. Loan interest rates vary between participating lenders, but from maximum standard rates.
| Loan Scheme | Interest Rate |
|---|---|
| Agriculture Cash flow Support Loan Scheme (ACSLS) | 2.95% fixed rate |
| Future Growth Loan Scheme (FGLS) | 4.5% for loans < €250,000 3.5% for loans > €250,000 |
| SBCI Working Capital Scheme (SBCI WCS) (comprising the Brexit Loan Scheme (BLS) and COVID-19 Working Capital Scheme (CWCS) | 4% or less |
| Brexit Impact Loan Scheme (BILS) (incorporating the COVID-19 Loan Scheme (CLS)) | Reflecting the risk profile of the loan, there is a hybrid approach to pricing with both a capped and discounted methodology employed. Discounted Approach: 15% of the scheme with a minimum discount of 1%. Capped Approach: 85% of the scheme: - Maximum loan interest rate of 3.7% on loans < €250,000 - Maximum loan interest rate of 2.75% on loans > €250,000 |
| COVID-19 Credit Guarantee Scheme | The interest rate charged to the participating enterprise reflects the risk profile of the loan - see below. |
The latest position on the COVID-19 Credit Guarantee Scheme(31/08/2022) indicates interest rates applied to loans approved to date as follows:
| Interest Rate | Number of Loans |
|---|---|
| 2.00% - 2.49% | 113 |
| 2.50% - 2.99% | 8,995 |
| 3.00% - 3.49% | 58 |
| 3.50% - 3.99% | 82 |
| 4.00% & greater | 599 |
| Total | 9,847 |
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