Agristarter Loans

Agristarter Loans provide farmers with loans to either assist them in starting their own farming business or to plan for and implement succession arrangements.
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Application detail:

Apply at any time.

What do you get?

Loans of up to $2 million.

Who is this for?

First time farmers or farmers looking to plan and implement succession arrangements.

Overview

There are 2 types of Agristarter loans:

  • first farmer - loans for indivduals seeking to purchase, establish or develop a farm business in which they will hold the sole or controlling interest
  • sucession - loans for farm businesses planning for, or undertaking succesion arrangements

Loans may be used to:

  • buy an existing farm business
  • establish a new farm business
  • buy out relatives during farm business succession
  • pay costs associated with the succession planning process
  • pay for legal costs or stamp duty

Check if you can apply

First farmer loan applicants must:

  • be seeking to purchase, establish or develop a farm business in which you hold or will holdthe sole or a controlling interest
  • not have previously held the sole or a majority interest in a farm business (other than the recently acquired or established business in respect of which the loan is sought)
  • have at least 3 years of relevant on-farm or equivalent experience
  • intend to have the farm business as their principal business pursuit

Succession loan applicants must be one of the following:

  • a farm business
  • a farm business successor, that is you have recently inherited or will inherit an interest in a farm business, or have recently acquired or will acquire an interest in a farm under a succession plan
  • a farm asset successor, that is you hold the sole or a controlling interest in a farm business, and have recently inherited or will inherit farm assets, or have recently acquired or will acquire farm assets under a succession plan

Individual applicants must:

  • be an Australian citizen or permanent resident
  • contibute or plan to contribute at least 50% of their labour to the farm business
  • earn or plan to earn at least 50% of their income from the farm business

Farm business applicants must:

  • operate as a sole trader, partnership. a trust or a corporation
  • be registered for tax purposes in Australia with an Australian business number (ABN) and is registered for goods and services tax (GST)
  • have the capacity to repay the loan
  • have at least one member who is an Australian citizen or permanent resident

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