{"id":214258,"date":"2018-07-23T11:48:24","date_gmt":"2018-07-23T01:48:24","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=214258"},"modified":"2020-07-30T10:17:24","modified_gmt":"2020-07-30T00:17:24","slug":"100m-loans-to-farmers","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2018\/07\/23\/100m-loans-to-farmers\/","title":{"rendered":"$100m Loans To Farmers"},"content":{"rendered":"

\"\"<\/a><\/strong><\/p>\n

July 23, 2018<\/strong>

\"\"<\/a>
Agricultural Industry Development Minister Mark Furner<\/figcaption><\/figure><\/p>\n

More than $100 million in concessional loans have been approved in the past 12 months to help young farmers buy or lease their first property, and to improve on-farm productivity.<\/p>\n

Agriculture Minister Mark Furner said the 2017-18 result was the second highest amount approved under the Primary Industry Productivity Enhancement Scheme (PIPES).<\/p>\n

PIPES is administered by the Queensland Rural and Industry Development Authority (QRIDA) and provides First Start loans up to $2 million for new entrants and Sustainability loans up to $1.3 million for established producers.<\/p>\n

Mr Furner said of the 228 loans approved in 2017-18, most were taken up by beef producers (58 per cent), followed by sugarcane growers (17 per cent) and grain and livestock producers (6 per cent).<\/p>\n

\u201cThis terrific take up of the PIPES for a second year in a row vindicates the decision made by the Palaszczuk Government to increase the lending cap on First Start and Sustainability loans,\u201d Mr Furner said.<\/p>\n

Mr Furner said the highest number of loan approvals in 2017-18 occurred in the Mackay Regional Council area, followed by the North Burnett, Maranoa, Western Downs, South Burnett, Bundaberg and Toowoomba Regional Council areas.<\/strong><\/p>\n

\u201cThe average age of First Start clients approved in 2017-18 was 36 years and for Sustainability clients was 50 years,” he said.<\/p>\n

\u201cThe Palaszczuk Government has endorsed QRIDA to provide net loan approvals of up to a further $100 million under PIPES in 2018-19 to continue to support new farmers and help boost the productivity of Queensland agriculture.\u201d<\/p>\n

Mr Furner said the loans have been used for a range of purposes including property purchases, predator fencing, plant and equipment, water infrastructure and drought mitigation.<\/p>\n

\u201cThe total PIPES loan portfolio as at 30 June 2018 was almost $470 million, a 13.6 per cent increase on the June 30, 2017 portfolio balance.<\/p>\n

\u201cThe portfolio represents more than 1370 Queensland primary producers currently accessing benefits under the scheme.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

More than $100 million in concessional loans have been approved in the past 12 months to help young farmers buy or lease their first property, and to improve on-farm productivity.<\/p>\n","protected":false},"author":20,"featured_media":170026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3,36],"tags":[1134],"yoast_head":"\n$100m Loans To Farmers - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"More than $100 million in concessional loans have been approved in the past 12 months to help young farmers buy or lease their first property, and to improve on-farm productivity.\" \/>\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\/2018\/07\/23\/100m-loans-to-farmers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$100m Loans To Farmers - 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