Low interest loans |
Sustainability Loan- Primary producer |
QLD Gov: QRIDA( QLD Rural and Industry Development Authority) |
� Low rate loans available for activities that enable expansion of current operations to improve productivity or long-term sustainability.
� Loans of up to $ 1.3m for up to 20 years at low rates fixed for 1, 3 or 5 yrs.; uses Include( i) improving enterprise efficiencies( building fences, dams, storage facilities, improving irrigation, establishing additional water points, implementing on-farm value adding, supply chain initiatives)( ii) upgrading or diversifying( buying plant & machinery, livestock)
� Be a full-time primary producer operating for at least 2 years; sound prospects for commercial viability; demonstrate financial need; provide an adequate management plan; security must be provided commensurate with the amount of the loan.
� http:// www. qrida. qld. gov. au / currentprograms / Productivity-Loans / sustainabilityloan / Sustainability-Loan-Primary-producer
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Low interest loans |
Drought Assistance Concessional Loans |
QLD Gov: QRIDA |
� Low interest loans available for debt restructuring, operating expenses, drought recovery activities and drought preparedness activities.
� Loans for up to 50 per cent of a farm business’ s final debt position to a maximum of $ 1 million; variable concessional interest rate is currently set at 3.09 per cent( from 1 February 2018); Maximum loan terms of up to ten years, with interest only repayments initially available for up to five years; Principal and interest repayments apply for the remaining five years of the loan, calculated on the basis of a 10-year loan term. Can be used for:( i) Debt restructuring: Applicants can use concessional loans to restructure existing eligible debt. This includes being able to restructure existing Commonwealth concessional loans.( ii) Operating expenses: Applicants can use funds for operating expenses that are necessary to continue the normal operations of the farm business.( iii) Drought recovery activities: Applicants can use loan funds to contribute to the cost of drought recovery activities including planting and / or restocking.( iv) Drought preparedness activities: Applicants can use loan funds to assist with the cost of activities to prepare for future droughts
� Closing date for applications 30 June 2018.
� Farmer and farm business must meet eligibility criteria set out in guidelines( http:// www. qrida. qld. gov. au /__ data / assets / pdf _ file / 0013 / 4450 / 20170623-Qld-guidelines- Drought-Assistance-Final. pdf). Includes they have owned and operated the Farm Business for at least the past three consecutive years, and the majority of the business is in Queensland. Plus either a) Farm Business is located in an area that has experienced a rainfall deficiency equivalent to, or worse than, a 1 in 20 year rainfall event, and is experiencing a Significant Financial Impact over at least a two year period or b) Farm Business is NOT located in an area that has experienced a rainfall deficiency equivalent to, or worse than, a 1 in 20 year rainfall event, but is experiencing a Significant Financial Impact as a direct result of the effects of drought over at least a two year period.
� http:// www. qrida. qld. gov. au / currentprograms / drought-concessional-loans-scheme
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