Cultivate welcomes extension of TAMS II scheme into 2021

Cultivate, the credit union farmer focussed lending platform, has welcomed the announcement on Wednesday 13 January 2021 that there will be a Tranche 21 of the very popular TAMS scheme (Targeted Agricultural Modernisation Scheme). TAMS supports farmers with on-farm capital investment.

Tranche 21 will open for applications on 16th January and will close on 16th April 2021. There will be a small number of amendments to the scheme with investments which were previously available under the Calf Investment Scheme will now be available under TAMS. All farmers can now avail of GPS spreaders which were previously only available to tillage farmers. Derogation farmers are no longer eligible to receive low emission slurry spreading equipment under TAMS.

While an additional tranche has been added, farmers who were approved under previous tranches may be given extensions. Any TAMS projects which were due for completion between 1st January 2021 and 1st April 2021 may be extended by 3 months. TAMS payment claims which are due before 1st April 2021 may also be extended by 3 months. If a farmer wishes to avail of these extensions, they should contact their local office where their approval was issued from.

Simon Foley, Manager of Ballincolig Credit Union , speaking on behalf of Cultivate, commented on the role that Government schemes like TAMS play in Irish agriculture, “The TAMS scheme is critical for farmers in our area. TAMS facilitates on-farm capital investment which would otherwise not be possible. Ballincollig Credit Union provides Cultivate loans specifically tailored for farmers who are looking to develop their farm. Cultivate loans have worked very well over the past number of years for farmers who are availing of a TAMS grant.”

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