Loan features | Drought Ready and Resilient Fund Loan |
|---|---|
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. |
Maximum amount available | Up to a maximum of $250,000 each financial year |
Current interest rate | View the loan terms for the current interest rate |
Loan term | 5 or 10 years |
Repayment | Principal + Interest |
Repayment frequency | Monthly, half yearly, quarterly or annually |
Security | Registered mortgage over land |
Establishment costs (registering security documents, title searches) | Yes |
Ongoing fees and other charges | No |
Extra repayments available (without incurring additional cost) | 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 | Sporting and Recreation Clubs and Associations |
|---|---|---|---|
| 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. | To assist with the costs associated with clean up, removal of debris and/or the restoration of essential facilities, equipment or other assets that have been damaged or destroyed as a result of a declared natural disaster. |
| Maximum amount | $130,000 | $25,000 | $10,000 |
| Interest rate | 2023-24 Natural Disaster Declarations: 2.79% per annum 2024-25 Natural Disaster Declarations: | 2023-24 Natural Disaster Declarations: 2024-25 Natural Disaster Declarations: | 2023-24 Natural Disaster Declarations: 2024-25 Natural Disaster Declarations: |
| Loan term | Up to 10 years preceded by 2 years repayment free | Up to 5 years | Up to 5 years |
| Repayments | Principal plus interest | Principal plus interest | Principal plus interest |
| Repayment frequency | Monthly, half yearly, quarterly or annually | Monthly, half yearly, quarterly or annually | Monthly, half yearly, quarterly or annually |
| Security | Registered mortgage over land | Registered mortgage over land | Considered at the discretion of the RAA |
| Establishment costs | Yes | Yes | Yes |
| Ongoing fees and charges | No | No | No |
| Extra repayments available | Yes, at no additional cost | 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 | Available in the event of a declared natural disaster |