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Farm Loans for Shed with TAMs

  • 15-01-2024 5:07pm
    #1
    Registered Users, Registered Users 2 Posts: 1


    Anyone any experience obtaining a loan from the banks for a farm shed, mainly interested to see what amount of deposit was required. For myself, looking at a shed that’s €200k inclusive of vat (looking to make the most of the 60% grant at the 160k partnership limit coupled with the vat back)


    appreciate there might be discussions prior in this chat but all out of date and lacking setail



Comments

  • Registered Users, Registered Users 2 Posts: 1,096 ✭✭✭dmakc


    This would be a Bridging Loan. For approval they'll judge your capacity to pay the first 40%, and only once you've paid this 40%, they'll provide a bridging loan for the other 60%. They can do same for VAT too



  • Registered Users, Registered Users 2 Posts: 467 ✭✭lmk123


    I enquired a while back, interest rates were very high almost 8% I think, terms for the bridging loan were were tough to say the least, you’d be under fair pressure to have the grant money paid on time to pay the bridging loan, I think they’d only give it for a max of 18 months and the rate was even higher for it.



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