Regional Investment Corporation – Loans for Farmers
The Regional Investment Corporation (RIC) is open for business, and is offering low interest loans to farmers.
The RIC was established on 1 July 2018, and administers the delivery of loans up to $2m.
Two types of loans are available:
- Farm investment loans – to strengthen your farm business; assist you to take steps to access markets interstate and/or outside Australia; and to prepare for, manage through, or recover from drought.
- Drought loans – to prepare for drought; and manage or recover from the effects of drought.You do not need to be drought declared to be eligible for the drought loan, but you must be located in an eligible area.
- 3.58% variable interest rate (reviewed six monthly)
- No fees
- Borrow up to $2m
- 10 year loan, first five years interest only
- Apply anytime
- At least 50% of total debt must be with a commercial lender
- Two loan products available
- Eligibility criteria apply
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 Regional Investment Corporation website at http://www.ric.gov.au/farmers or call them on 1800 875 675.