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ARTICLE · 27 AUGUST 2013

Farm Finance for Concessional Loans

Moore Australia
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The Australian Government has committed $30 million to provide assistance to eligible Queensland farm businesses.

AustraliaGovernment, Public Sector
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The Australian Government has committed $30 million for each of the next two years from 2013-14 (total $60 million) to provide assistance to eligible Queensland farm businesses in the form of concessional loans for debt restructuring. The scheme will be administered by the rural adjustment authority, QRAA.

Key features of the Concessional Loans Scheme

  • Loans of up to $650,000 for eligible farm businesses to restructure existing farm business debt.
  • Loan terms of up to 5 years.
  • Concessional Loan amounts will be less than 50 per cent of the total eligible debt of the farm business.
  • Variable concessional interest rate initially set at 4.5 per cent.
  • Interest only payments are available for up to 5 years.

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