Enviroflex loans now available across all dairy farms as Bank of Ireland confirms three new Co-op partnerships

  • Sustainability-linked loans now available to over 17,000 dairy farmers
  • Value of Enviroflex finance applications has doubled in the past 6 months

Enviroflex sustainability-linked loans are now available across all dairy farms, following Bank of Ireland’s confirmation of three new Co-op partnerships, making the innovative loan product available to members of Boherbue Co-op in Cork, Callan Co-op in Kilkenny and Centenary Co-op in Tipperary.

Ahead of the 2025 National Ploughing Championships Bank of Ireland now has 16 Enviroflex Co-op partnerships in place, with the product accessible to over 17,000 dairy farmers in conjunction with each Co-ops sustainability schemes. Farmers continue to support the environmental transition by implementing a range of sustainable actions including;

  • Constructing animal housing
  • Financing sustainability developments such as new milking parlours
  • Investing in nutrient management facilities such as slurry storage tanks
  • Implementing renewable energy technologies such as solar panels
  • Purchasing new machinery by availing of TAMS grants

The popularity of Enviroflex since first launching in November 2023 goes from strength to strength, with €60m in loan applications recorded, doubling from €30m in the past six months alone. The specialised financing for farmers also aligns with Bank of Ireland’s Sustainable Finance Framework, with a commitment to achieve €15bn in sustainable financing by the end of 2025 already achieved. Bank of Ireland currently has 82,000 farm customers, providing over 52% of all agri-lending in 2024.

Bank of Ireland’s expert team of Agri Development Managers and Customer Advisors will be present at Stand 185 throughout this year’s National Ploughing Championships in Tullamore, Co. Offaly (16 – 18 September) to guide farmers on the benefits of Enviroflex, as well as a wide range of other financial options.

Speaking as the three new Enviroflex partnerships went live, Eoin Lowry, Head of Agri Sector, Bank of Ireland said: “We are delighted to confirm these new Enviroflex partnerships with Boherbue, Callan and Centenary Co-ops, bringing to 16 in total the number of Co-ops nationwide who’s members can access Enviroflex discounted loans. These new partnerships establish a landmark for the Enviroflex product, which is now available across all dairy farms, and our thanks must go to all our Co-op partners who have championed the sustainability linked loans with their members.”

“Bank of Ireland’s ambition has always been to make this sustainability-linked product available to as many farmers as possible, and we are excited to form new partnerships across the wider industry. With the 2025 National Ploughing Championships coming up, I would encourage any farmer interested in learning more about their financing options to visit the Bank of Ireland stand, where our dedicated team can guide in terms of buying machinery, constructing new farm buildings, or enhancing on-farm sustainability practises.”

ENDS

Financing Package Details:

  • The loan amount can range from a minimum of €10,000 to a maximum of €500,000.
  • The interest rate is variable and is currently at a discounted market rate of 4.49%, for those undertaking sustainable action on their farm
  • Typically, unsecured loans are available for up to €120,000.
  • Standard term of 7 years. (Longer term available for secured lending)

Ends

Notes to Editors;

  • To find out more about Bank of Ireland’s Enviroflex loans please click here: Enviroflex – Bank of Ireland Business Banking
  • Each Co-ops sustainability programme is supported by science and best practice as developed by Teagasc and Bord Bia Origin Green