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On Farm Assistance

Farm Investment Loan

The Regional Investment Corporation (RIC) offers low interest government-funded loans to farmers in need. Their Farm Investment Loan can be used for any farm business related activity including:

  • refinancing existing debt to free up cashflow
  • operating costs like outstanding bills, employee labour
  • drought preparedness, management and recovery activities
  • productivity enhancements and infrastructure to future-proof farm businesses

Why you should apply:

  • no ongoing fees or charges
  • repayments can be tailored to the cashflow of the farm business
  • refinance or borrow up to $2 million
  • variable interest rate of 3.58% (reviewed six monthly)
  • their loan assessment team understands agribusiness
  • loan term is 10 years – the first five years are interest only. Pay some principal in remaining five years and refinance remaining debt with a commercial lender at the end of the loan.

Call the RFCS to discuss your circumstances.
We are well versed in the application process and the application process.

Are you eligible?

To be eligible, you must:

  • be an Australian citizen or permanent resident
  • contribute at least 75% of your labour to the farm business (under normal circumstances)
  • earn at least 50% of your income from the farm business (under normal circumstances).

    Additionally, the farm business you are running must:

    • solely or mainly sell products into supply chains that are interstate or outside Australia, or plan to in the future
    • have existing commercial debt
    • be registered for tax purposes in Australia with an Australian Business Number (ABN) and be registered for GST
    • be in financial need of a loan
    • have the capacity to repay the loan
    • operate as a sole trader, trust, partnership or private company
    • be in the agriculture, horticulture, pastoral, apiculture, or aquaculture industry.

    Drought Loan

    The Regional Investment Corporation (RIC) offers low interest government-funded loans to farmers in need. Their Drought Loan can be used for any farm business related activity including:

    • refinancing existing debt to free up cashflow
    • operating costs like outstanding bills, employee labour
    • drought preparedness, management and recovery activities
    • productivity enhancements and infrastructure to future-proof farm businesses

    Why you should apply:

    • no ongoing fees or charges
    • repayments can be tailored to the cashflow of the farm business
    • refinance or borrow up to $2 million
    • variable interest rate of 3.58% (reviewed six monthly)
    • their loan assessment team understands agribusiness
    • loan term is 10 years
    • the first five years are interest only. Pay some principal in remaining five years and refinance remaining debt with a commercial lender at the end of the loan.

    Please don’t self-assess. Call the RIC to discuss your circumstances.
    Their loan assessment team understands Australian agribusiness.

    Are you eligible?

    • Your farm business needs to be in an eligible area (check here), which covers over 95% of Australia.
    • Drought is an eligible event, but so is any event outside a farmer’s control like frost, fire, cyclone, hail, pest and disease outbreaks or market closures. You need to show the event(s) have caused (or are likely to cause) significant financial impact over a two year period.
    • The RIC accepts a broad range of evidence about the event (including government or industry notifications, reports from the Bureau of Meteorology or photographic evidence) to support your application. Your application will also require evidence of the financial impact that the event has had on your business (Your financial statements including cash-flow, tax returns and forecast budget can be used to support this.)
    There’s no limit on the number of times you can apply. The maximum loan amount at any one time is $2 million.

    Farm Innovation Fund

    The Farm Innovation Fund provides loans to assist farmers within New South Wales to carry out capital works which:

    • refinancing existing debt to free up cashflow
    • operating costs like outstanding bills, employee labour
    • drought preparedness, management and recovery activities
    • productivity enhancements and infrastructure to future-proof farm businesses

    Loans of up to $250,000 per project are available.
    Total assistance available for all eligible measures is $500,000 at any one time.

    Are you eligible? 

    To be eligible, you must:

    • own or operate a farm enterprise in NSW where the proposed work is to be carried out
    • show that the farm enterprise under normal conditions provides at least 50% of your total gross income
    • not have gross off farm assets exceeding $5,000,000
    • demonstrate that the work you wish to carry out will have significant impact on the land, your farming enterprise and will help you to prepare for adverse seasonal conditions
    • demonstrate that your farm enterprise is sustainable in the long term and will be able to repay the loan
    • have the security required for the loan
    • lodge your application for the loan before commencing the project
    • show that your proposed works are part of your Farm Business and Risk Assessment Plan.

    On Farm Emergency Water Rebate Infrastructure Scheme

    Eligible farmers can access a 25 per cent rebate – up to $25,000 – on new purchases and installation costs for new on-farm water infrastructure to help them in the current drought and be better prepared for future dry conditions.

      The On-Farm Emergency Water Infrastructure Rebate scheme can be applied to:

      • new purchases and installation of:
      • pipes
      • water storages
      • water pumps
      • de-silting dams
      • drilling of new stock water bores and associated infrastructure including:
        • desalinisation plants
        • power supply such as generators.

      Farmers will be eligible to apply through PIRSA for the rebates, which will also cover eligible work undertaken since 1 July 2018.

      Are you eligible?

      To be eligible to access funding under the rebate scheme:

      1. a) You are a property owner, share-farmer or lessee in the grazing industry
      2. b) You operate as a sole trader, partnership, trust or private company
      3. c) Your property is located in one of the drought affected areas
      4. d) As the owner and operator,
      5. you earn more than 50% of your gross income from your Primary Production Business under normal seasonal circumstances;

      or

      1. You have commenced your farming operation between 1 July 2015 and 30 June 2018 and 50% of your gross income will be derived from your Primary Production Business within three years of the date of your Application. Eligibility of new entrants will be considered on a case by case basis
      2. e)     The water infrastructure in respect of your Application is installed for livestock permanently residing on your property.

      The program guidelines and application form are available on the PIRSA website: http://www.pir.sa.gov.au/onfarm-water-rebate

      Animal Welfare Transport Subsidy

      The NSW Government is subsidising 50% of eligible costs for the permanent transport of stock off a farm which is facing financial hardship and where livestock are at fat score 2 or below (dairy cattle 3 or below), to a maximum of $20,000 per financial year.

      NB: This program is funds limited with $500,000 available in each financial year.

      Are you eligible?

      A subsidy on the transport of stock is permanently available to primary producers where:

      • animals are at significant risk in terms of animal welfare;
      • there is little or no feed and/or water available. This includes both pasture and stored fodder;
      • animals leave the farming enterprise permanently; and
      • the enterprise demonstrates a significant financial need.

      Transport Assistance NSW

      Transport Assistance provides support in three areas:

      • Natural disasters – assistance with the cost of transporting stock or fodder/water following a declared natural disaster.
      • Animal welfare – help with the cost of transporting stock where there is significant risk to animal welfare.
      • Donated fodder – help with the cost of transporting donated fodder from within NSW to drought affected properties.

        The following funding is available:

        • Natural disasters – up to $15,000 is available.
        • Animal welfare – up to $20,000 is available.
        • Donated fodder – up to approximately $7,500 is available.

        Are you eligible?

        Eligibility for natural disasters, animal welfare and donated fodder differ from each other.

        Visit https://www.raa.nsw.gov.au/ for all of the information you will need to access these services.

        Or contact your RFCS officer to chat about whether this assistance is best for you.