QTPA Industry Alert |New interest rates announced for Productivity Loans

New interest rates announced for Productivity Loans

QRAA Chief Executive Officer, Colin Holden has announced the new interest rates for the Queensland Government’s Sustainability and First Start Loans for primary producers.

Queensland primary producers can access Productivity Loans of up to $ 650,000 to improve the viability of their primary production enterprise.

The new fixed interest rates for loans drawn down from 1 January 2015 are:

Term Interest Rate:

• 1 year 3.72% (down from 3.78%)

• 3 year 3.76% (down from 3.93%)

• 5 year 3.88% (down from 4.20%)

Interest rates are subject to change 1 July 2015.

The loans have no set up or exit fees, no hidden costs and repayment terms of up to 20 years. The option of joint lending with commercial banks is also available for producers who need additional finance beyond the maximum productivity loan amount of $ 650,000.

Producers wishing to apply must ensure they submit complete applications, as applications are assessed in order of receipt and only complete applications can enter the assessment queue.

Producers should not self assess – QRAA Client Liaison Officers are available to meet on-farm to discuss the loan criteria, terms and conditions and assist with the application process.

For further information visit www.qraa.qld.gov.au or contact us on Freecall 1800 623 946.

The Sustainability and First Start Loans are an initiative of the Queensland Government’s Primary Industry Productivity Enhancement Scheme administered by QRAA.