Tag Archives: Seamus Sherlock

ICSA rural development chairman Seamus Sherlock has called on local farmers to be cautious if availing of the new 2.95% loan scheme. The scheme, which will be operated by the banks, utilises a combination of funding from the Strategic Banking Corporation of Ireland and an interest subsidy funded jointly by the EU and the exchequer. “While ICSA welcomes low interest rates in general, it is vital that farmers carefully assess their borrowing capacity. The new scheme is being promoted partly on the basis that the loans are unsecured. While this may lead to a faster and more efficient approval process, farmers should not assume that they will be immune from making full repayments. Even in the case of an unsecured loan, banks are fully entitled to seek a court judgement, which could be registered against the farmer’s assets. The message is that these loans should only be used by farmers who have carefully weighed up their repayment capacity and have …

The ICSA has appealed to all rural dwellers to look out for one another over the Christmas period. The organisation’s rural development chairman Seamus Sherlock said, “We all lead busy lives and none more so than farmers but it’s important to keep our older and more vulnerable citizens in mind over the coming weeks. This will be all the more pertinent given the bad weather forecast for the weekend which may add to the difficulties for many.” Continuing Mr Sherlock said, “A quick call may be all that is needed to make a big difference in the life of someone who feels lonely or isolated at this time of year. It is important that these people are reassured and reminded they are still a much valued and respected part of their communities. Farmers are renowned for lending a helping hand to others when in need so let’s all work to keep that tradition alive.”