Interest rate drop announced for Productivity Loans

QRAA Chief Executive Officer, Colin Holden has announced the new interest rates for the Queensland Government’s Sustainability and First Start Loans for primary producers.

The new fixed interest rates for loans drawn down from 1 July 2015 are:

Interest rates are next subject to change on 1 January 2016.

Productivity loans are designed to give Queensland primary producers or aspiring producers the opportunity to take proactive steps in developing a sustainable and productive farm business through a Sustainability or First Start Loan.

Sustainability Loans allow producers to invest in projects such as property expansion, predator fencing, improved water infrastructure and more efficient irrigation systems, whereas First Start Loans support those aspiring to buy their first farm or become partners in the family farm.

Producers are strongly urged not to self assess – QRAA Client Liaison Officers are available to meet on-farm to discuss loan criteria, terms and conditions and the application process.

What else you need to know:  Loan amounts of up to $650,000

• No set up or exit fees
• Loan term of up to 20 years
• Up to two years interest only
• Joint lending is available for producers who need additional finance beyond $650,000

For further information visit www.qraa.qld.gov.au or contact us on Freecall 1800 623 946.