Write a farm business plan your bank will read — in 30 minutes, not 3 days

If you've ever sat down to write a business plan for a bank loan — for a shed, land purchase, or herd expansion — you know the feeling. You know your farm inside out. But putting it into a document that a bank manager will take seriously? That's a different job entirely.

Most farmers either pay someone to do it or cobble together something that doesn't quite land. The result is delays, back-and-forth, and sometimes a flat refusal that had nothing to do with the farm's viability.

AI tools like ChatGPT and Claude can get you a solid first draft in 30 minutes. Not a final document — a starting point that covers what the bank actually wants to see.

What banks actually look at

Before you open ChatGPT, it helps to know what the lending team cares about. Talk to any agri advisor at AIB or Bank of Ireland and they'll tell you the same things:

• Cash flow — can you service the repayments from existing income?
• Security — what assets back the loan?
• Track record — how has the farm performed over the last 3 years?
• The plan itself — what are you building, why, and what changes when it's done?

They don't need a 40-page document. They need a clear, structured summary that shows you've thought it through.

The prompt that gets you a first draft

Open ChatGPT (the free version works) or Claude and try this:

"I'm a [beef/dairy/sheep/tillage] farmer in County [X] with [X] hectares and [X] livestock units. I want to apply for a €[X] loan from [AIB/Bank of Ireland/other] to [build a slatted shed / buy additional land / expand the herd / other]. My current annual turnover is approximately €[X] and my main income streams are [livestock sales / milk / scheme payments / crops]. Draft a farm business plan I can bring to the bank. Include: executive summary, farm overview, the proposed investment, projected costs and returns, repayment capacity, and risk factors."

Swap in your own numbers. The more specific you are, the better the output.

What you'll get — and what to fix

The AI will produce a structured document with headings, projected figures, and business language. It'll look professional. But here's what you need to check before showing it to anyone:

1. The figures are invented

AI doesn't know your actual accounts. It'll estimate based on national averages — which might be close or might be way off. Replace every number with your real figures. Pull them from your Teagasc e-Profit Monitor, your accountant's annual returns, or your own records.

2. Interest rate assumptions

The AI will guess at interest rates. Check the actual rates your bank is offering. As of early 2026, agri loan rates vary significantly between lenders and loan types.

3. Scheme payments

AI often gets scheme payment amounts wrong or references schemes that have closed. Cross-check any BISS, ACRES, or ANC figures against your most recent payment statement from DAFM.

4. Local context

A generic business plan reads like a generic business plan. Add a paragraph about your specific locality — soil type, distance to mart or co-op, local infrastructure. This is what separates a real plan from a template.

A worked example

Scenario: A suckler farmer in County Roscommon with 80 cows on 45 hectares wants a €65,000 loan for a new slatted unit.

The prompt above, filled in with those details, produced a 4-page plan covering:

• Current stocking rate and breeding programme
• The case for the shed (animal welfare, winter housing capacity, reduced labour)
• Cost breakdown: construction, planning, site works
• Repayment schedule over 7 years
• Risk section covering TB, mart price volatility, and weather

It took 3 minutes to generate and 25 minutes to edit with real figures. Compare that to starting from scratch.

What NOT to use AI for in this process

• Don't let AI calculate your repayment capacity. Use your accountant's figures or the Teagasc financial health check.
• Don't submit it without reading every line. Bank managers spot AI-generated text. Edit it to sound like you.
• Don't rely on it for tax implications. Talk to your accountant about capital allowances, VAT recovery, and any TAMS grant interactions.

Tips for a stronger plan

1. Attach your last 3 years of accounts — the plan is the summary, the accounts are the proof.
2. Reference the Teagasc e-Profit Monitor if your figures benchmark well against similar farms.
3. Include photos of your existing setup if the investment is infrastructure. Banks like to see what they're lending into.
4. Name your advisor — if you work with a Teagasc advisor or agricultural consultant, mention them. It signals you're not operating in isolation.

Where to get help

• Your Teagasc advisor can review the plan before you submit it.
• IFAC and other farm accountancy firms often help with business plan preparation as part of their service.
• The Local Enterprise Office in your county offers free business plan templates and one-to-one mentoring — not just for non-farm businesses.

AI gets you the draft. Your own knowledge and your advisor's review get you the loan.