New Entrants Scheme

DARD Reporter

13/12/06

Over 110 young farmers have been accepted at the first application stage for the New Entrants Scheme.  Applications have come from Dairy, Beef and Sheep, Poultry, Pigs, Crops and Horticulture businesses.  Projects include purchasing machinery, livestock, poultry houses, new milking parlours, roofing yards, roofing slurry tanks, cow cubicles, improving handling facilities etc.

One dairy farmer who took advantage of the scheme was Sam Campbell from Coleraine.  Sam used the scheme to upgrade his cubicle house built on two old silage pits.  Sam said, “The fact that the New Entrant Scheme refunds all the interest for my new investment is a great help and allows me to concentrate on repaying the capital as quickly as possible”.

NES supports young farmers by refunding the interest charged by lending institutions on new borrowings associated with investment in production agriculture (includes horticulture).

The maximum amount of interest that can be refunded is £17,000 and the maximum duration of interest repayments is five years.

Applicants must be under 40 years of age and plan to or have recently set up as Head of Holding.  This does not mean land or assets must be transferred to the young applicant, but that their name must be added to the business reference number and they must be moved to the position of at least 51% of the profits.  The business must be viable and the applicant must possess or agree to attain key competencies in Agriculture.  

The scheme will remain open until 5^th June 2008 or until all the available funds have been committed.  Application packs 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.