Additional Information for Cultivate AGRI Lending

The purpose of this notice is to inform our members about our Cultivate AGRI lending services. These loans apply to Micro and Small enterprises only (as defined by The Central Bank S.I. No. 585 of 2015) meaning an enterprise which employs fewer than 50 persons and has either or both of annual turnover not exceeding €10 million and has a balance sheet total not exceeding €10 million.

Applying for credit facilities

The lending delivery channel for Ballinasloe Credit Union Limited is generally through a face-to-face meeting with one of our lending officers. You are entitled to
request a meeting with the Credit Union to discuss any proposed application for credit.

We will acknowledge all loan applications submitted within 2 working days of receipt.

We are very proud of the efficiency with which we deal with applications and undertake to revert with our credit decision within 15 working days (or sooner in
most cases) of receipt of all documentation required to assess the application, in line with the Regulatory requirement.

To assess the Cultivate AGRI loan applications fully and properly, we may ask you for the information necessary to assess your application. This will usually include:

• an up-to-date set of accounts for your enterprise
• a business plan* which should include:
• a brief background of the enterprise.
• a projection of profit and loss.
• a balance sheet and cash flow projection.
• an outline of how the proposed borrowing will help the enterprise.
• most recent Revenue Notice of Assessment document.
• operating bank current account statements for your enterprise for at least the last 3 months.
• personal current account statements for the last 3 months.
• Proof that all taxes are paid up-to-date.

We will also conduct a credit check with the Central Credit Register. A refusal of credit by the Credit Union should not adversely affect your ability to access credit
in the future or with other financial institutions. However, please be aware that the date/s on which your information on the CCR was accessed will be visible to other
lenders

We may need other information depending on the size and purpose of the loan.

If within 15 working days of receipt of all documentation required, we cannot make a decision on whether to grant or decline your application, we will inform
you in writing why the application will take longer than 15 working days and the expected timeframe within which a decision will be made.

If the reason we cannot make a decision within 15 working days is because further information is required, we will outline the information required and the timeframe within which the information should be provided.

Annual review

Please note that all Cultivate AGRI borrowers are welcome to have an annual discussion with a member of our lending team. We shall endeavour to contact you
annually for this purpose. You should feel free to contact us directly at any time in this regard.

Such an annual review would cover:

• the performance of the loans currently in place between us,
• the security we hold, if any
• alternative borrowing arrangements that might suit you better than the existing loan.

To conduct the review, we will usually require:

• a copy of you most recent financial statements
• up-to-date bank statements for the most recent three months
• proof that your taxes are all paid up-to-date

We shall review all such documentation within seven business days of receiving it and we will contact you shortly afterwards to schedule an appointment at a mutually convenient time.

Security

We apply a reasonable approach in relation to security based on the level of the credit being sought, the term of the loan as well as the overall risk profile.

Lending fees

Ballinasloe Credit Union Limited does not charge fees to assess or administer your lending. However, third party expenses may be incurred in the context of your loan in some circumstances (e.g. legal fees, valuation fees) and these will be payable by the borrower. Any such fees or expenses will be notified to you in advance.