Evergreen Credit Line

The Evergreen Credit Line provides farmers with the convenience and flexibility of a pre-arranged line of credit. It will facilitate improved farm budgeting and will give you greater choice in meeting your working capital and short term funding needs. It provides you with a very competitive interest rate on borrowings and in allowing you to purchase your inputs with cash, you can avoid higher cost merchant credit and secure attractive cash purchase discounts.

The Evergreen Credit Line provides an innovative working capital solution that works in tandem with your current account.

How Evergreen Credit Line works:

1. The Evergreen Credit Line allows customers up to 12 drawdowns per annum.
2. The Evergreen Credit Line works alongside your Current Account.
3. The Evergreen Credit Line is generally subject to annual review.

Benefits of an Evergreen Credit Line:

Flexible

You can choose to draw down the facility as you require it - in 1 or up to 12 transactions - you can do this yourself if you have access to AIB Internet Banking. There is no requirement for a nil or credit balance during the year. Therefore, you have the flexibility of determining when you make repayments over the course of the year. Furthermore, at annual review, you may negotiate with the Bank to roll-on the account balance or initiate an appropriate repayment schedule.

Competitive Interest Rate

The Evergreen Credit Line is one of the most competitive working capital offerings in the market and can work out considerably cheaper than standard overdraft rates. The Credit Line's variable interest rate is linked to market rates so ensuring that interest rate movements are quickly reflected in the interest rate that you pay. The rate for the Evergreen Credit Line is linked to AIB's Prime rate (which is reviewed on a weekly basis) and details are available from your branch on request.

Improved Budgeting

Evergreen Credit Line facilitates improved farm budgeting as well as providing farmers with ready and convenient access to funds as they respond to market developments and opportunities. It can help you to avoid higher cost merchant credit and help you secure attractive cash purchase discounts.

Eligibility

Open to both existing and new farming customers, subject to normal lending criteria.

Important / Regulatory Notice

Full details can be found in the AIB Terms and Conditions governing Business Lending brochure, a copy of which is available from your local AIB Branch.

Lending criteria, terms and conditions apply. Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age. Security may be required.

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