Ulster Bank has announced expansion loans for dairy and beef farmers and a young farmer “start-up package”.

The bank is offering unsecured loans of €30,000 to young farmers with agricultural qualifications and a business plan, and loans to beef and dairy farmers who want to expand their rearing and finishing.

The “dairy expansion loan” is designed to ensure farmers are “ready to make the most of the post milk quota era”, said the bank. A “beef stocking loan” will be made available to help farmers expand, and offers the option of a repayment schedule to match the farmer’s cattle sales.

A team of 21 financial experts will also be made available to farming customers, and will undertake agricultural training to provide on the ground support across Ireland, Ulster Bank added.

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