Farm Business Concessional Loans Scheme boosted with a further $10 million for SA

The Farm Business Concessional Loans Scheme has been boosted in SA with a further $10 million provided by the Federal Government in 2016-17 in the form of Dairy Recovery and Drought Assistance Concessional Loans.

 

PIRSA staff will be available to meet with farm businesses on the following dates:

 

  • Nuriootpa – Wednesday 17 May 2017
    PIRSA Nuriootpa Research Office, 571 Research Road Nuriootpa from 9.00 am to 4.00 pm.
  •  Victor Harbor – Thursday 18 May 2017
    Natural Resources Adelaide and Mount Lofty Ranges Office, 3 Eyre Terrace Victor Harbor from 9.00 am to 4.00 pm.

 

The meetings will be conducted one on one, to provide each farm business with the opportunity to have a discrete and confidential conversation about their application.

 

The Farm Business Concessional Loans scheme is open for applications until 30 June 2017, or when funding is fully committed, whichever occurs first

In brief, the details of the loan scheme include:

 

 

  • Drought Assistance Concessional Loans to assist commercially viable drought affected farmers to continue to operate through drought, recover once the season breaks and prepare for future droughts. Loans of up to $1 million are available for debt restructuring; and to provide new debt for operating expenses, drought recovery (planting and restocking) and drought preparedness activities. http://pir.sa.gov.au/primary_industry/drought/drought-assistance-concessional-loans

 

A concessional interest rate is currently set at 2.47% per annum and reviewed by the Australian Government every 6 months.

 

A maximum loan term of 10 years, with interest only repayments for the first five years; and principal and interest payments for years six to ten.

 

Potential applicants are requested to call PIRSA toll free on 1800 182 235 to arrange an appointment time or to obtain further information about the loans