Farmers can receive grants of up to £25,000 towards eligible farm equipment and technology
Northern Ireland farmers will begin receiving the first £15 million worth of offers under a major new farm investment scheme from Thursday, with successful applicants given 28 days to accept the funding.
The first Letters of Offer under the Sustainable Farming Investment Scheme (SFIS) will be issued from 8 October, the Department of Agriculture, Environment and Rural Affairs (DAERA) has confirmed.
Farm businesses can receive grants of up to £25,000 towards eligible equipment and technology, with support covering 40% of approved investment costs.
The first £15m allocation forms part of a wider £40m programme which is due to be rolled out through several funding rounds over the next three to four years.
Successful applicants have been urged to check their offers carefully and accept them promptly if they intend to proceed.
Farmers will have 28 calendar days from the date their Letter of Offer is issued to accept or decline it through the SFIS portal.
Offers which are not accepted before the deadline will expire.
Crucially, farmers should also avoid purchasing equipment, paying deposits or receiving invoices before the date of their formal Letter of Offer.
DAERA's scheme rules state that grant funding will not be paid for items purchased beforehand, while a deposit or invoice dated before the offer could result in the full value of that item being deducted from the eventual claim.
The warning means successful applicants should wait until their formal offer is in place before committing financially to machinery or equipment covered by the scheme.
The first round of SFIS opened in July and closed on 3 September.
It offered 40% grant support towards eligible investments valued between £3,000 and £62,500, allowing an individual farm business to secure a maximum grant of £25,000.
Support is focused on a pre-selected range of equipment and technology intended to improve farm efficiency and environmental performance across livestock, arable and horticultural businesses.
Low-emission slurry spreading equipment is among the investments covered by the scheme.
Farmers who successfully applied for both low-emission slurry spreading equipment and other eligible equipment will receive separate Letters of Offer and must accept each one individually if they intend to proceed with both investments.
DAERA Minister Andrew Muir said he was encouraged by the level of interest from farmers wanting to invest in improving the efficiency of their businesses while delivering environmental benefits.
He described SFIS as a significant part of Northern Ireland's wider Sustainable Agriculture Programme and said it was designed to support a more productive and resilient farming sector.
Mr Muir also pointed to the high demand for support, saying it demonstrated the level of investment required across Northern Ireland agriculture.
However, DAERA's announcement has not specified how many farm businesses will receive offers from the initial £15m allocation.
The minister said securing funding for future rounds would be important in allowing support to reach as many farm businesses as possible.
The wider £40m SFIS programme is expected to continue through further funding rounds over the next three to four years.