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How long should an Agri Loan from BOI take?

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  • 13-11-2018 4:22pm
    #1
    ODUBHLAOICH
    Registered Users Posts: 11 ✭


    Hi,

    How long should it take before an approved agricultural capital investment loan is fully processed and funds available?

    Has anybody been through this process lately.

    I have been granted a loan to build a new cattle shed, which required security. I applied last July and the process is still on going. I got approval etc. And all required documentation, searches, security etc has been provided to the Banks solicitor firm.

    I have been waiting for over two weeks, expecting the release of funds any day. My solicitor cannot understand what the delay is in releasing funds.

    I never thought the process would take well over four months. If I don't hear anything this week I'll be forced to head into my local credit union in the hope of getting the loan, or an interim loan there.

    Is this usual for Bank of Ireland? Should it be taking this long? Has anybody else taken out an agricultural loan for building lately and found themselves in this position?

    Thanks for any feedback on this.
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