{"id":184299,"date":"2017-07-18T17:12:57","date_gmt":"2017-07-18T07:12:57","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=184299"},"modified":"2020-07-28T19:48:38","modified_gmt":"2020-07-28T09:48:38","slug":"farm-loans-scheme-opens","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2017\/07\/18\/farm-loans-scheme-opens\/","title":{"rendered":"Farm Loans Scheme Opens"},"content":{"rendered":"
\"\"<\/a>
Deputy Prime Minister Barnaby Joyce<\/figcaption><\/figure>\n

July 18, 2017<\/strong><\/p>\n

The Federal Government’s 2017\u201318 Farm Business Concessional Loans Scheme has an initial commitment of $50 million to support eligible drought-affected farms in Queensland.<\/p>\n

Deputy Prime Minister Barnaby Joyce said the scheme, which opened on July 1, was part of the government\u2019s $250 million commitment to provide concessional loans for eligible farm businesses nationally until June 30, 2018.<\/p>\n

\u201cOur farm business concessional loans have proven to be a successful product for farm businesses, enabling them to refinance existing debt, fund normal operations and bankroll activities to increase productivity to build their businesses back up,\u201d Mr Joyce said.<\/p>\n

\u201cConcessional loans will continue to be available to assist farmers across Queensland to rebuild their businesses following drought.<\/p>\n

\u201cSo far more than $709 million in concessional loans have been approved to over 1300 farm businesses nation-wide since 2013, including more than $248 million to over 430 farm businesses in Queensland.<\/p>\n

\u201cFor 2017\u201318, the Farm Business Concessional Loans Scheme will also be extended to eligible Farm Household Allowance recipients who have exhausted their 1095-day entitlement.<\/strong><\/p>\n

\u201cThe loans have an initial variable concessional interest rate of 2.47 per cent for a maximum term of 10 years. Interest-only repayments are available for the first five years of the loan term, with principal and interest repayments for the next five years.<\/p>\n

\u201cSupporting viable farm businesses is firmly in our national interest. That is why we are establishing the Regional Investment Corporation. The RIC will administer the government\u2019s $2 billion farm business concessional loans from 2018\u201319, as well as the $2 billion National Water Infrastructure Loan Facility.<\/p>\n

\u201cThe RIC will be fully operational by July 2018. Until the RIC is open for business, farm businesses in Queensland should continue to apply for concessional loans through their delivery agency, Queensland Rural and Industry Development Authority (QRIDA, formerly QRAA).”<\/p>\n","protected":false},"excerpt":{"rendered":"

The Federal Government’s 2017\u201318 Farm Business Concessional Loans Scheme has an initial commitment of $50 million to support eligible drought-affected farms in Queensland.<\/p>\n","protected":false},"author":20,"featured_media":261132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,36],"tags":[1134],"yoast_head":"\nFarm Loans Scheme Opens - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"The 2017\u201318 Farm Business Concessional Loans Scheme has an initial commitment of $50 million to support eligible drought-affected farms in Queensland.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2017\/07\/18\/farm-loans-scheme-opens\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Farm Loans Scheme Opens - 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