The Department of Agriculture Environment and Rural Affairs (DAERA) has announced that the deadline for Tier 2 Tranche 2 Farm Business Improvement Scheme – Capital (FBIS-C) applications has been extended.
The new deadline is at 4:00 p.m. on 20 May. According to the department only those farm businesses which submitted an expression of interest will be eligible to submit a full application for Tier 2 tranche 2 by the revised application closing date.
The FBIS-C originally opened on 10 January 2022 and was expected to run for 12 weeks. This is the second time that the deadline has been extended. The department added that there are a significant number of applications currently being progressed, and that the extension will allow farmers and growers who are currently working on their applications extra time to finalise all aspects of the application.
DAERA adds that this will allow applicants more time to engage with their banks/lending institutions and work towards obtaining the supporting information or permissions required for the application process.
Tier 2 is for projects costing from £30,000 and is primarily for construction projects and the purchase of higher value equipment linked to the needs in the farmer’s business plan. It’s understood that the second Tranche of Tier 2 of FBIS-Capital will have a budget of £12 million, subject to budget availability.