New entrants scheme

Young farmers throughout Northern Ireland have shown a significant level of interest in the interest rate subsidy scheme launched by DARD on the 6 June 2005.

Over 130 young farmers attended public meetings held in Greenmount Campus, Omagh and Banbridge and a further 80 attended the Young Farmers Club of Ulster meeting held at Loughry campus. The meetings were interactive and constructive with lots of questions and feedback from local young farmers.

The New Entrants Scheme supports young farmers under 40 years of age by providing an interest subsidy on loans from lending institutions.

£5M of aid has been allocated to the scheme. The maximum amount of aid available per farm business is £17,000 and the maximum duration of subsidised interest is five years.

Applicants must be under 40 years of age and have set up as head of holding within the twelve months prior to submission of an application. The business must be viable and the applicant must posses or agree to attain key skills and competencies in Agriculture

The scheme is now open for applications and will remain open until 5 June 2008 or until all the available funds have been committed, whichever is sooner. Application packs for the scheme are available from Grants and Subsidies branch Orchard House 40 Foyle Street, Londonderry Tel:02871319900 or from local DARD Agricultural Development Centres.

For further details about the New Entrants Scheme, contact

Philip Downey or Colin Rea on 02877721819 and 02894426609 respectively.

Philip Downey (second from right) CAFRE, with a number of young farmers at the Greenmount meeting on the New Entrant Scheme