On 9 May 2017 the Australian Government announced that until the Regional Investment Corporation is open for business, it is intended that farm businesses will be able to continue to apply for the Farm Business Concessional Loans Scheme through their state delivery agency.
Dairy Recovery Concessional Loans are available to assist commercially viable dairy farm businesses affected by the retrospective decisions of Murray Goulburn, Fonterra and National Dairy Products to reduce farm gate milk prices in 2015–16.
The eligibility criteria for these loans have been expanded to include Victorian farm businesses who supplied milk to National Dairy Products in 2015–16.
Loans are available for a maximum of 10 years, for up to 50 per cent of a farm business’s final debt position to a maximum of $1 million in total.
Dairy Recovery Concessional Loans established under the 2016–17 Farm Business Concessional Loans Scheme, have a variable concessional interest rate of 2.47 per cent (as at 1 February 2017).
Dairy Recovery Concessional Loans can be used for a combination of the following purposes:
- debt restructuring
- providing new debt for operating expenses or
- providing new debt for productivity enhancement activities.
For information about the loans and eligibility requirements see
Questions and answers.
Delivery agency contacts
Dairy Recovery Concessional Loans will be delivered by different agencies in different states, on behalf of the Australian Government.
More information, including scheme guidelines and application requirements, are available from the relevant delivery agency website for your jurisdiction.
|Tasmania||Open for applications||
State Growth||1800 440 026|
|New South Wales||
Open for applications||
NSW RAA||1800 678 593|
|Victoria||Open for applications||
Rural Finance||1800 260 425|
|South Australia||Open for applications||
PIRSA||1800 182 235|