The Applications for QRAA Drought Assistance
Concessional Loans Are Due 30 June 2017
QRAA has received an additional $15 million in funding from the Commonwealth Government for their Drought Assistance Concessional Loans program.
The program provides financial assistance to drought-impacted primary producers with up to $1 million to refinance existing debt, provide cashflow for carry-on costs, restock and replant when conditions improve, or invest in future preparedness measures.
Since the scheme opened late last year, there has been a strong uptake of the program, and producers are encouraged not to self-assess. Eligibility is based on a number of factors, is not based on state drought declarations. Therefore even if your drought status has been revoked, you may still be eligible to benefit from these loans.
An interest rate is currently available of only 2.47 per cent for a ten year loan term, with up to 5 years interest-only repayments available.
Applications for Drought Assistance Concessional Loans close 30 June 2017.
For further information or to discuss your eligibility and the services we can offer, please call to speak with Jodi Elder on 07 4638 1100.
Further information is also available on the QRAA website at http://www.qraa.qld.gov.au/current-programs/drought-concessional-loans-scheme