The average dairy farm loan in 2025 rose to €52,909, a 6% increase on 2024.

That's according to Cultivate Credit Union’s 2025 annual review, which stated that the increase reflected “continued confidence and heightened cost of investment on Irish dairy farms”.

The report also found that off-farm income remains a significant feature of beef farming households, with 88% of beef applicants reporting off-farm income.

Stocking and working capital was the most popular loan purpose (25%), followed by farm buildings (22%) and equipment (21%).

According to Cultivate, these loan purposes “underline the importance farmers are placing on investing in their farms and future-proofing their enterprises”.

The average Cultivate loan application in 2025 was for €40,924, the highest average loan amount since the initiative launched in 2017 and up marginally on 2024.

The credit union said that this reflects “growing confidence among Irish farmers to invest in their farms”.

The typical applicant borrowed over 80 months (6.6 years), farmed circa 34ha, and carried an average farm debt of €151,951.

Other findings

Borrowing activity in 2025 was more evenly distributed across the year compared to 2024, with monthly application volumes ranging from 7% to 10% compared to a wider 6% to 11% spread the previous year.

April was once again the busiest month, accounting for 10% of total applications, while November was the quietest at 7%.

February was the busiest month for dairy farmer applications in 2025, while April remained the peak month for beef farmers.

Joe Healy, chairperson of Cultivate and former Irish Farmers' Association (IFA) president, this week launched National Cultivate Week which takes place from April 20-26.

The annual event brings together credit unions and their members to celebrate Irish farmers and the vital role they play in sustaining local communities and the wider economy.

Established in 2017, it is an initiative of a group of credit unions across the Republic of Ireland that provides short to medium-term loans built specifically for the needs of its farming members. 

At the launch, Healy said: "The 2025 Cultivate Review shows that Irish farmers, and beef farmers in particular, are investing."

Therese Conway, CEO of Collaborative Finance – the organisation behind the Cultivate brand - said: “Farmers right across the country now have access to farm finance through their local credit union, finance that is built around the realities of farm life; flexibility, speed, and a real personal service.”

“We’re proud to celebrate that during National Cultivate Week and we look forward to meeting farmers at events right across the country.”