Cultivate welcomes extension of TAMS II

CULTIVATE, the farmer-focussed credit union lending platform, has welcomed this month’s announcement 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 opened for applications on January 16th and will close on April 16th, 2021. There will be a small number of amendments to the scheme with investments which were previously available under the Calf Investment Scheme now being 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 January 1st and April 1st, 2021 may have their deadlines extended by three months.

TAMS payment claims which are due before April 1st, 2021 may also be extended by three months. If a farmer wishes to avail of these extensions, they should contact their local office where their approval was issued from.

Finbarr O’Shea from Bantry 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.

‘Bantry 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.’