Your Banking Relationship as a Young Farmer

Keep your bank informed

We encourage you to keep us informed on how your business is doing - because the more we know about your business, the more helpful and supportive we can be. Like all farmers you are in it for the long haul. Planning for the long term future of your farm is key to your continued success.

When approaching a financial institution for finance it is important that you supply the Bank with the necessary information to allow them to firstly understand your business and secondly ensure that the correct financial structure is put in place to meet your specific banking requirements.

There is certain information a bank may require when assessing loan applications by young farmers.

1. Farm business plan including details of farm finance required, the purpose of the finance and the proposed repayment schedule e.g. initial 18-month interest-only period followed by 15-year term. Ideally, this plan would include income and expenditure projections and where possible cashflows budgets.
2. Up to date financial accounts for 2-3 years if available.
3. A farm profile including details of land farmed, production system, livestock, farm machinery & existing financial commitments.
4. There may be other information required e.g. up to date bank statements if you are currently banking with another institution. A well prepared proposal will enhance your application and support the banks understanding of your future plans

More Information

For more information on any elements of the AIB Young Farmers' Package or AIB's range of financial products call into your local AIB branch.

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