Turf QLD Industry Alert |NEW QRAA DROUGHT ASSISTANCE CONCESSIONAL LOANS

NEW QRAA DROUGHT ASSISTANCE CONCESSIONAL LOANS

Restructure, recover, revitalise: Drought Assistance Concessional Loans

From 1 November, Drought Assistance Concessional Loans of up to $1 million are available for drought-affected Queensland producers looking to restock, restructure debt, invest in drought preparedness activities and manage operating expenses.

The loans are part of the Australian Government’s Farm Business Concessional Loans Scheme, replacing and building upon the previous Drought Recovery and Drought Concessional Loans. Queensland has received an initial allocation of $35 million which will help us assist even more primary producers.

Key features of the loan include:

• a concessional interest rate of 2.47%
• 10 year loan terms
• interest-only repayments for the first five years

Under this scheme, even if you are not currently in a state drought-declared area or on a BoM map, if your rural business has been financially impacted by drought you may still be eligible for this new assistance.
Our network of regionally based Client Liaison Officers are ready to answer your questions and guide you through the requirements and application. Resist the urge to self-assess and Freecall 1800 623 946 to chat to our team.

More information available at www.qraa.qld.gov.au

 Drought Assistance Concessional Loans are an initiative of the Australian Government’s Farm Business Development Scheme, administered by QRAA. Interest rates are for loans drawn down from 1 November 2016 and are subject to change.

The information provided by QRAA is for general information only and has been prepared without taking into account your individual objectives, financial situation and needs.  Before applying for financial assistance or making any decision, you should obtain and read a copy of the relevant program guidelines and seek  advice from your legal, business and financial advisors to determine your eligibility for and the terms of the relevant financial assistance. You should note that past financial assistance is not a reliable indicator of eligibility for future financial assistance. The information provided by QRAA has been taken from sources believed to be reliable however QRAA does not represent that the information is accurate or complete and it should not be relied upon as such. QRAA does not assume any common law duty of care towards you in providing the information and QRAA will not be liable for any loss or damage however caused (including by the negligence of QRAA), suffered or incurred by you in connection with information provided by QRAA.