Loan features | Drought Ready and Resilient Fund Loan | Seafood Innovation Fund Loan | |
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Purpose of loan | The fund offers eligible primary production enterprises an opportunity to invest in drought preparedness and management activities including on-farm infrastructure works, business resilience activities, animal welfare and environmental activities. | To meet the cost of carrying out permanent capital works that fall in to four main categories of preparedness, environmental improvements, farm infrastructure and natural resources. | To meet the cost of carrying out permanent capital works in the key areas of preparedness, environment, fishing and aquaculture farming equipment and assets and transport and logistics. |
Maximum amount available | Up to a maximum of $250,000 each financial year | Up to a maximum of $1,000,000 per project | Up to a maximum of $500,000 |
Current interest rate | View the loan terms for the current interest rate | 2.50% fixed per annum | 2.50% fixed per annum |
Loan term | 5 or 10 years | Up to 20 years | Up to 20 years |
Repayment | Principal + Interest | Principal + Interest | Principal + Interest |
Repayment frequency | Monthly, half yearly, quarterly or annually | Monthly, half yearly, quarterly or annually | Monthly, half yearly, quarterly or annually |
Security | Charge and registered caveat over the property on which the proposed activities are to be carried out (alternative security may also be considered). | Charge and registered caveat over property. | Charge and registered caveat over property is the RAA's first preference. The security for the loan will be determined in relation to each application. |
Establishment costs (registering security documents, title searches) | Yes | Yes | Yes |
Ongoing fees and other charges | No | No | No |
Extra repayments available (without incurring additional cost) | Yes | Yes | Yes |
Natural Disaster Relief Loans
Primary producers, small business operators and not-for-profit organisations affected by flood, fire, storm damage or any other declared natural disaster can apply for a concessional loan to assist with recovery.
Loan features | Primary Producers and Small Business Operators | Not-for-profit Organisations |
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Loan purpose | To meet the essential working capital required to continue operations and the replacement and repair of damage caused to property and associated improvements not covered by insurance. | To meet the restoration of essential facilities, equipment or other assets that have been damaged or destroyed; and/or temporary storage or leasing of alternate premises. |
Maximum amount | $130,000 | $25,000 |
Interest rate | 2023 Natural Disaster Declarations: 1.79% per annum 2024 Natural Disaster Declarations: | 2023 Natural Disaster Declarations: 2024 Natural Disaster Declarations: |
Loan term | Up to 10 years preceded by 2 years repayment free | Up to 5 years |
Repayments | Principal plus interest | Principal plus interest |
Repayment frequency | Monthly, half yearly, quarterly or annually | Monthly, half yearly, quarterly or annually |
Security | Registered mortgage over land | Registered mortgage over land |
Establishment costs | Yes | Yes |
Ongoing fees and charges | No | No |
Extra repayments available | Yes, at no additional cost | Yes, at no additional cost |
Availability | Available in the event of a declared natural disaster | Available in the event of a declared natural disaster |