July 23, 2017<\/strong><\/p>\nThe State Government\u2019s First Start and Sustainability Loans are open for application again, with more funding and lower interest rates this year.<\/p>\n
The loans are designed to help eligible next generation farmers enter agriculture, and encourage existing primary producers to build, expand and improve their enterprise for long-term profitability and sustainability.<\/p>\n
They loans are administered by the Queensland Rural and Industry Development Authority (QRIDA), formerly known as QRAA. <\/p>\n
Agriculture Minister Bill Byrne said uptake of the loans had increased dramatically since they were introduced in 2015.<\/strong><\/p>\n“$116 million was approved in 2016-17, compared to $64 million the previous financial year,” Mr Byrne said.<\/p>\n
“The government continues to meet that increased demand and help even more Queenslanders reach their farming goals, with $120 million being made available under these programs for 2017-18.” <\/p>\n
Making the no-fee, government-backed loans even more attractive, interest rates have also dropped to as low as 3.02 per cent for those drawn down from July 1, 2017.<\/p>\n
“These rates present an incredible opportunity for Queensland\u2019s producers, both aspiring and established, to take the next step \u2013 whether that\u2019s into full time primary production, or towards a more profitable operation,” Minister Byrne said.<\/p>\n
First Start Loans provide up to $2 million to assist in the early stages of establishing a primary production enterprise.<\/p>\n
Sustainability Loans of up to $1.3 million allow existing producers to invest in the long term success of their business through expansion, diversification and on-farm improvements.<\/p>\n
Producers are encouraged to speak to one of QRIDA\u2019s nine Regional Area Managers in order to make the most of the programs.<\/p>\n
These local representatives are available to meet on-farm to discuss individual goals and circumstances, explain eligibility requirements and walk producers through the application process step-by-step.<\/p>\n
For more information on First Start and Sustainability Loans, visit the QRIDA website<\/B><\/A> or freecall 1800-623-946.<\/p>\n","protected":false},"excerpt":{"rendered":"The Queensland Government\u2019s First Start and Sustainability Loans are open for application again, with more funding and lower interest rates this year.<\/p>\n","protected":false},"author":3,"featured_media":271846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,36],"tags":[1134],"yoast_head":"\n
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