September 17, 2020
Farmers and farm-related small businesses have until September 30 to take advantage of two-year interest free loans from the Regional Investment Corporation before the drought-related loan terms change.
Agriculture Minister David Littleproud said loan applications should be submitted now to qualify for the interest-free period.
“There are just two weeks left to submit a completed loan application and supporting documentation to qualify for the interest free period,” Minister Littleproud said.
“Drought Loans assist farmers in preparing for, managing and recovering from drought. The loans can refinance existing debt, fund activities such as replanting and restocking and operating expenses.
“AgBiz Drought Loans assist small agriculture dependent businesses manage through drought. The loans can refinance existing debt or pay for operating expenses.”
Drought and AgBiz Drought loan applications made after September 30 will revert to five years’ interest-only and five years’ principal and interest.