{"id":238648,"date":"2019-07-01T15:45:56","date_gmt":"2019-07-01T05:45:56","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=238648"},"modified":"2020-09-17T16:36:55","modified_gmt":"2020-09-17T06:36:55","slug":"loan-rate-cut-for-farmers","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2019\/07\/01\/loan-rate-cut-for-farmers\/","title":{"rendered":"Loan Rate Cut For Farmers"},"content":{"rendered":"
\"\"<\/a>
Federal Agriculture Minister and Member for Maranoa David Littleproud<\/figcaption><\/figure>\n

July 1, 2019<\/strong><\/p>\n

The Regional Investment Corporation – a lending body set up by the Federal Government in 2018 – will cut its rates from August 1.<\/p>\n

The RIC delivers farm business concessional loans and National Water Infrastructure loans to farmers.<\/p>\n

\u201cI\u2019m pleased to support the reduction in the RIC Loan rate to 3.11 per cent,\u201d Rural Finance Minister and Member for Maranoa David Littleproud said.<\/p>\n

\u201cThe RIC\u2019s average rate is 2 per cent lower than the commercial lenders.<\/p>\n

“On a $500,000 loan, that\u2019s a saving of around $10,000 a year.<\/p>\n

\u201cThe RIC is seriously helping farmers in hardship, farmers in drought, and farmers who want to build dams.<\/p>\n

\u201cIn the past financial year alone, the RIC approved 172 loans worth almost $166 million.<\/p>\n

\u201cI\u2019m also excited the RIC is providing a real and cheaper alternative to major banks and bringing more competitive tension to the market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Regional Investment Corporation – a lending body set up by the Federal Government in 2018 – will cut its rates from August 1.<\/p>\n","protected":false},"author":20,"featured_media":276803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3,36],"tags":[1134],"yoast_head":"\nLoan Rate Cut For Farmers - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"The Regional Investment Corporation - a lending body set up by the Federal Government in 2018 - will cut its rates from August 1.\" \/>\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\/2019\/07\/01\/loan-rate-cut-for-farmers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Loan Rate Cut For Farmers - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"The Regional Investment Corporation - 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