First Citizen Finance has won approval from the State -Backed Strategic Banking Corporation of Ireland (SBCI) to offer low-cost financing to agri-business SME’s. SBCI said First Citizen was offering a €50 million fund to agri-businesses seeking to buy or lease machinery, including tractors, combines and balers.
Seem’s like the finance folk are bending over backwards to get lending to SME’s these days. The old Shakespeare quote ‘Neither a borrower nor a lender be’ doesn’t quite work in modern day capitalist economies.
First Citizen’s hire purchase and leasing products for agri-business will use the SBCI’s funding advantage to offer discounted rates and more attractive repayment terms of up to seven years.
