The application period for the Tier 2 tranche 2 of the Farm Business Improvement Scheme - Capital (FBIS-C) has been further extended to 20 May 2022.
Tier 2 is for projects costing from £30,000 to £250,000, and is primarily for construction projects and the purchase of higher value equipment linked to the needs in the farmer's business plan.
Tier 2 applications are for larger-scale transformational projects that require significant time and commitment to complete in the current market conditions.
It is envisaged that the second Tranche of Tier 2 of FBIS-Capital will have a budget of £12 million, subject to budget availability.
The scheme, which opened for 12 weeks from 10 January 2022, has now been extended to close by 4.00pm on 20 May 2022.
According to the Department of Agriculture (DAERA), there are a significant number of applications currently being progressed.
The department added that the extension would allow farmers who are currently working on their applications extra time to finalise all aspects of the application.
In addition, it said it would allow applicants more time to engage with their banks and work towards obtaining the supporting information or permissions required for the application process.
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, 4.00pm on 20 May 2022.
