Second application period for Farm Finance Concessional Loans Scheme (Queensland) extended to 30 April 2014 

Queensland farm businesses experiencing debt servicing difficulties now have until 30 April 2014 to apply for concessional loans of up to $1 million to restructure their existing debt.

The extension provides farm businesses with extra time to consider the benefits of the loans and submit their applications to QRAA for assessment.

We urge primary producers not to self assess – QRAA staff are available to talk about individual circumstances and offer guidance with the application process.

For farm businesses having difficulty servicing their existing debts – this is not new or more debt. By restructuring existing debt, producers benefit from the concessional interest rate of 4.5 % and interest only terms of up to 5 years.

Queensland has the highest funding allocation of all the Australian States and the extension means more loans can be offered to a broad spectrum of agricultural enterprises.

Applications for the Farm Finance Concessional Loans Scheme (Queensland) will be assessed in the order of receipt and must be fully complete before they enter the queue.

Full repayment of a Farm Finance Concessional Loan (Queensland) is required at the end of the loan term; which may be through a return to commercial lending arrangements.

Farm Finance Concessional Loans Scheme (Queensland)

The Australian Government has committed $50 million in 2013-14 to provide assistance to eligible Queensland Farm Businesses in the form of concessional loans for debt restructuring. The second application period for 2013-14 opened to applications on 6 January 2014 and will close on 30 April 2014. For more information about the features of the loan, eligibility and how to apply, visit the QRAA website. 

This program is funded by the Australian Government and delivered by QRAA.

Contact us…

If you would like to speak to a QRAA representative or book an appointment with your local Client Liaison Officer, please call QRAA on Freecall 1800 623 946.

For further information about the assistance please visit www.qraa.qld.gov.au.