Producers can apply for Farm Finance from August 16

From Friday, August 16, Queensland producers can apply for Farm Finance Concessional Loans of up to $650,000 to help restructure debt.

Now being delivered by QRAA, the package will provide $60 million over two years to support Queensland farmers struggling with debt.

Agriculture, Fisheries and Forestry Minister John McVeigh said $20 million was being made available in the first of two application periods in 2013-14 financial year.

“The first period will open on August 16 and close on October 31, 2013,” Mr McVeigh said.

“Eligible producers will be able to apply for loans up to $650,000 with a variable interest rate starting at 4.5 per cent.

“These loans will be interest-only for up to five years and will give producers time to get their finances in order and back on their feet. 

“We estimate the $60 million package will be able to help between 100 and 150 viable producers with temporary debt financing difficulties. 

“Producers should note that applications will be assessed in the order of receipt and must be fully complete before they enter the queue.”

Producers can apply for the loans through QRAA by calling 1800 623 946 or visiting their website www.qraa.qld.gov.au. More details about the Farm Finance Concessional Loans Scheme are currently available on the QRAA website.

Details of the second application period for 2013-14 will be published on the QRAA website ahead of time.

[ENDS] 6 August 2013

Media contact: Lachlan Millar 0407 394 580