AgRebuild Loan (North QLD Flood)


AgRebuild Loan (North QLD Flood) provides primary producers impacted by the North and Far North Queensland Monsoon Trough 2019 with loans to help them recover from this disaster.
Open
Close date: 30 Jun 2020 12:00 AM AEST.
What do you get?

Loans of up to $5 million.

Who is this for?

Farm businesses impacted by the North and Far North Queensland Monsoon Trough.

Overview

AgRebuild Loan provides concessional loans to farm businesses to help them restock, replant and recover from the impacts of the North and Far North QLD monsoon trough 2019.

The loans are aimed at farm businesses experiencing hardship or extreme hardship as a direct result of the North Queensland flood.

The loan may be used to:

  • replace lost stock or crops
  • replant crops
  • restore or replace on-farm infrastructure lost or damaged as a direct result of the North Queensland flood
  • meet operating expenses relating to the damage arising out of the North Queensland flood (eg. transporting livestock, obtaining finance, alternative accommodation)
  • refinance existing debt

Loans of up to $5 million, over a 10 year period are available. The loan is interest free for the first two years.

What are the eligibility criteria?

To be eligible, your farm business must:

  • have been directly impacted by the monsoon trough and be in financial need
  • be located in an eligible local government area
  • be registered for tax purposes in Australia with an ABN and be registered for GST
  • be in the agriculture, horticulture, pastoral, apiculture, or aquaculture industry
  • if not located in an eligible local government area, have an Individual Disaster Stricken Property (IDSP) notice
  • retain 50 percent of the farms commercial debt with a commercial lender except in cases of extreme hardship
  • have the capacity to repay the loan
  • be financially viable in the long term
  • operate as a sole trader, trust, partnership or private company

Find out more about the eligibility criteria at AgRebuild Loan (North QLD Flood).

How do you apply?

Find out more about how to apply at AgRebuild Loan (North QLD Flood).