It is an unfortunate reality that large areas of Queensland continue to be affected by drought.
Regional and rural communities throughout Queensland have grown accustomed to overcoming challenging conditions. It is a resilience that has seen our agricultural sector not just survive, but thrive for generations.
As a long term financial partner of Queensland agriculture, QRAA proudly stands beside producers in good and bad times.
Under the Australian Government’s Drought and Drought Recovery Concessional Loans Schemes, QRAA is providing loans of up to $1 million to help producers manage drought and recovery.
With interest rates starting at 2.71 per cent, these loans can help farm businesses free up money to support their resilience efforts and ongoing recovery.
Drought Concessional Loans up to $1 million can assist farm businesses survive through drought, recover when the drought breaks and prepare for future droughts.
Drought Recovery Concessional Loans offer a unique pre-approval process. This allows producers to apply for loans of up to $1 million whilst still in drought. Approved applicants can then access funds to undertake planting and/or restocking when seasonal conditions have improved.
Recent rainfall in some parts of Queensland has lifted confidence in the agricultural sector, prompting a spike in applications from producers seeking to secure their share of the government backed drought loans.
Over $98.9 million has been approved since the schemes opened. With 16 loans worth $8.3 million under assessment, even more farm businesses are set to benefit from the low interest rate loans.
The Drought and Drought Recovery Concessional Loans Schemes are only available until 30 June 2016, so producers should avoid self-assessing and contact QRAA without delay.
Producers are also reminded that applications for drought loans are not determined by state declarations, but that a Rainfall Deficiency Report is required as part of their application.
QRAA’s Client Liaison Officers can provide specific advice to producers about eligibility for these schemes and which approach may be best for each individual farm business.
Contact your local Client Liaison Officer today on Freecall 1800 623 946 or visit QRAA’s website at www.qraa.qld.gov.au to arrange an on-farm meeting, discuss eligibility, terms and conditions and how to access your Rainfall Deficiency Report.