glanbia loan

whelan1

has anyone done this? think its through boi at 5.74% interest rate

IPFree

Hi & thanks for post. Any more info on this loan?

whelan1

IPFree wrote: »

Hi & thanks for post. Any more info on this loan?

no, i was talking to my glanbia feed rep today, he was telling me about it, said it takes about 6 weeks to implement, was just wondering do any of the glanbia people on here know aything about it

bob charles

whelan1 wrote: »

no, i was talking to my glanbia feed rep today, he was telling me about it, said it takes about 6 weeks to implement, was just wondering do any of the glanbia people on here know aything about it

Christ thats a great help, most guys would need the credit in 6hrs never mind 6 days

stanflt

whelan1 wrote: »

no, i was talking to my glanbia feed rep today, he was telling me about it, said it takes about 6 weeks to implement, was just wondering do any of the glanbia people on here know aything about it

whats it for? can it be used for expansion and what are the terms

whelan1

stanflt wrote: »

whats it for? can it be used for expansion and what are the terms

i dont know, thats why i asked here

delaval

It was originally for people who would be buying approx same amount each year sy €30k. Take out a loan with BofI through Glanbia and make payments over 8 milk months.
It has since morphed into a rescue plan where by a farmer in arrears can take the loan for amount in arrears and make set payments, however you must keep your account in credit for duration of the loan.

All I can say is that if you are in bother you should contact your branch manager and try to work something out. Believe it or not they are prepared to help but be under no illusion that they will want their money returned.

If one ignores a problem it will never go away and you'll get no peace

IPFree

Hmmmm.... So can I get one for a large no. of sunbeds and set em up around the fields? :-)
Worth doing the figures on if that's the intrest rate, way better than overdraft and possibly bank term loan.
Thanks again for info.

delaval

IPFree wrote: »

Hmmmm.... So can I get one for a large no. of sunbeds and set em up around the fields? :-)
Worth doing the figures on if that's the intrest rate, way better than overdraft and possibly bank term loan.
Thanks again for info.

Terms and conditions apply. If you read my post you'll see that money goes to pay your trade a/c and you make the repayments. You must also keep your current trading a/c paid every 30 days no exceptions.

I would suggest that this be used as a last resort, you will not get twice. Talk to your manager. I was involved in a settlement case for a friend who got in bother and hence the knowledge. The workings may have changed since. They could not have been more accomodating.

bob charles

if you were to go down this road then the bank would also know your credit position with your merchant so in effect it may curtail the amount of credit you are able to squeeze out of your bank.

Werent the IFA mouthing on about going direct for finance in the last year or so. Probably busy behind the scenes:rolleyes:

delaval

bob charles wrote: »

if you were to go down this road then the bank would also know your credit position with your merchant so in effect it may curtail the amount of credit you are able to squeeze out of your bank.

Werent the IFA mouthing on about going direct for finance in the last year or so. Probably busy behind the scenes:rolleyes:

Hit the nail on the head, last chance saloon

whelan1

it might be of help to those who are at risk of getting a very small milk cheque due to what they owe glanbia.......they also want to see your last few bank statements... could only half hear what he was saying as child was shouting

bob charles

delaval wrote: »

Hit the nail on the head, last chance saloon

Come on in, I was feeling lonely in here until this year, place is packed now

whelan1

just reading in farming indo of the problems of 1 farmer who owes arrabawn over 36,000, now maybe i am thick but why would they continue to supply feed to him if he wasnt paying anything towards it? he has 160 cows and 45,000 gallon quota

st1979

delaval wrote: »

Hit the nail on the head, last chance saloon

Rubbish I got this loan 4 years ago. It can be used for virtually anything. I didn't have an outstanding account just needed to finish grant work when my own bank refused me. Got the money and only security is my milk cheque. 50k is max over 5 years. interest rate on it for the last few years is below 3% due to drop in ecb rates.
Am told its a lot more difficult now. But never heard it was last chance salon.

delaval

st1979 wrote: »

Rubbish I got this loan 4 years ago. It can be used for virtually anything. I didn't have an outstanding account just needed to finish grant work when my own bank refused me. Got the money and only security is my milk cheque. 50k is max over 5 years. interest rate on it for the last few years is below 3% due to drop in ecb rates.
Am told its a lot more difficult now. But never heard it was last chance salon.

If you read my first post you'll see that it was what you say but has become something else at this stage, I also said to contact your manager and discuss your situation