MilkFlex is an award-winning loan scheme designed exclusively for Irish dairy milk suppliers and supported by over 20 co-operatives nationwide.
Consistently recognised as the leading loan product for dairy farm expansion in Ireland, MilkFlex helps protect farm incomes from the impact of dairy market volatility, seasonality, and disease outbreaks.
Facilitates the reduction of principal and interest repayments by 50% for a six-month period if the base reference milk price is 38 cpl incl. VAT or below for 3 consecutive months.
Facilitates the reduction of principal and interest repayments by 100% for a six-month period if the base reference milk price is 34 cpl incl. VAT or below for 3 consecutive months.
Features repayments that are increased by 25% for a six-month period when the base reference milk price is 60 cpl incl. VAT or above for 3 consecutive months.
Repayments may be suspended if a notifiable disease is confirmed by the Department of Agriculture.
Loan repayments are automatically deducted from the supplier’s milk receipts by their participating co-op over 8 months of the year (April to November, reflecting the seasonal spring milk supply curve) with no loan repayments (interest or principal) during the low milk production months from December to March inclusive.
|
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
|
0% |
0% |
0% |
10% |
10% |
15% |
15% |
15% |
15% |
10% |
10% |
0% |
No repayments Dec - Mar, 10% of annual payments collected Apr, May, Oct, Nov, 15% collected Jun - Sept.
If you are unsure about what MilkFlex can be used for, or how the MilkFlex application process works you can watch our short explainer video below which discusses the key features of the loan, the application process, the farm visit and the drawdown process.
For more information on MilkFlex, please give us a call on the number below or fill in our enquiry form above for a call back from a member of our MilkFlex team.
On the irrevocable consent of the milk supplier, MilkFlex loan repayments will be made by the participating co-op during the key milk production months and passed directly to Finance Ireland. The precise amount of the deduction from the supplier’s milk payment will be advised monthly to the participating co-op by Finance Ireland.
Yes, loans with a standard 12-year term may be used to fund land purchases, subject to approval and underwriting criteria, and subject to security undertaking. Land purchase is not permitted with a standard 8-year term.
If a Supplier ceases to supply milk to the participating co-op or breaches their Milk Supply Agreement (MSA) during the term of the loan, they will be required to immediately repay any outstanding balance due on the loan on demand.
No, the MilkFlex loan product does not require the borrower to take out life assurance. However, we would encourage all applicants to seek independent advice from a Qualified Financial Adviser on whether they should have such a policy in place as the full outstanding Milkflex loan balance is due on demand in the event milk production ceases.
All borrowers are advised to seek independent tax advice from a suitably qualified adviser in relation to this loan scheme.
No, the changes to the repayments are designed to allow milk suppliers adjust to the market. The loan period can be extended by a maximum of 2 years for a standard 8 year term and by a maximum of 3 years for a standard 12 year term.
MilkFlex is a variable rate product that will move in line with the Euribor rate.
The triggers are applied automatically. However, a farmer can – without penalty – choose to make additional payments to fully or partially clear the loan.
Any disease officially listed by the Department of Agriculture as a notifiable disease. The current list is: Bovine Brucellosis, Bovine Tuberculosis, Bovine Leukosis, BSE, Cattle Plague (Rinderpest), Contagious Bovine Pleuropneumonia, Lumpy Skin Disease and Warble Fly.
Learn about the key features of a MilkFlex loan and the application process in this useful information booklet.
9:00 AM - 17:30 PM
MilkFlex,
Clerkin House,
85 Pembroke Road,
Ballsbridge, Dublin 4,
D04 YN53.
Regulatory Information
6.71% Annual Percentage Rate (APR) representative is inclusive of an arrangement fee of 1.25% and based on a variable interest rate of 6.4090%. Total credit €75,000.
96 monthly instalments of €1,000.61. Actual instalments are repayable seasonally with high season monthly instalment of €1,801.10 and low season monthly instalment of €1,200.73. Total cost of credit €21,996.18 (inc. arrangement fee).
Please note the above example is representative and does not account for the impact of a Flex event.
Low Months are April / May / October / November.
High Months are June / July / August / September.
