September 18, 2018
Farmers can now access up to $2 million in low-interest loans, double the previous limit of $1 million.
Agriculture Minister David Littleproud said the Federal Government had also doubled the total funding available for low-interest loans in any given year to $500 million.
“These loans will help those in hardship, including drought,” Mr Littleproud said.
“When farmers transfer their commercial loans to our low-interest loans, good savings can be made.
“The first five years of these loans will remain interest-only.
“Farmers with existing government loans will also be able to switch to these Regional Investment Corporation loans to access the interest-only period.
“We made this commitment to farmers on August 19 and today we delivered.
“We can’t make it rain but we can help our farmers survive the drought which is affecting so many farming families.”
