CU says new TAMS scheme a boost for local farmers
The Targeted Agricultural Modernisation Scheme (TAMS) is back for 2023 with €440 million in funding available for farmers looking to modernise and upgrade their farms. The highly popular scheme amongst Offaly farmers is set to return with a Tranche 1 opening date to be confirmed for early this year. The new TAMS builds on previous versions of the scheme. Importantly, it will also include a higher grant rate of 60% for investments in low emission spreading equipment, farm safety, organics, and solar, in line with Government priorities.
Young farmers, female farmers as well as organic farming participants have also been given significant focus for 2023 with grant aid for capital investments for these farmers also at an enhanced grant rate of 60%.
As part of the changing funding landscape, Cultivate farm loans are increasingly part of the supports accessed by farmers. Cultivate is the collaborative credit union finance lending platform for farmers providing short to medium term loans. Participating credit unions in Offaly work closely with farmer members to meet their changing needs.
Speaking on behalf of Cultivate, Deirdre Murphy from Tullamore Credit Union emphasised the importance of supports for farmers.
“Cultivate understands the need for farmers to complete on-farm investments from both a sustainability and efficiency perspective. Cultivate work with local farmers in Offaly to provide them with the necessary finance they need to continue investing in their farm business. The TAMS schemes is a great opportunity for farmers to reduce the costs of developing their farm and provides additional funding supports to supplement their requirements.”
TAMS operates seven different schemes under which farmers can access support. These include the Young Farmer’s Capital Investment Scheme, the Dairy Equipment Scheme, the Organic Capital Investment Scheme, the Low Emission Slurry Spreading (LESS) Equipment Scheme, the Pig and Poultry Investment Scheme, the Animal Welfare, Safety and Nutrient Storage Scheme and the Tillage Capital Investment Scheme. For farmers who are looking to really maximise the potential offered by these schemes through TAMS, the Cultivate loan offers accessible supplementary funding to work in tandem with the grant supports.
Farmers who want to find out more about how to access a Cultivate loan to support their next TAMS applications, can go to www.Cultivate-CU.ie or call 1 800 56 55 55 Tullamore Credit Union.