Loans for QLD drought impacted primary producers to meet working capital expenses

Loans are available to assist drought impacted Queensland primary producers to help them meet working capital expenses.

Overview

Loans may be used for working capital expenses, including:

• paying employee wages
• paying creditors
• paying rent and rates
• buying goods, including fuel, for carrying on the business.

The maximum combined outstanding loan balance under both the Emergency Drought Assistance Loan and the Drought Carry-on Finance Loan is $250,000.

What are the eligibility criteria?

To be eligible, applicants must:

• demonstrate at least one person in the primary production business is a primary producer
• have carried on the primary production business for at least 12 months
• have taken reasonable precautions to minimise the effect of drought on the primary production business
• demonstrate ability to service the loan
• demonstrate financial assistance is required because the primary production enterprise has been significantly financially affected by drought
• demonstrate the primary production business cannot support carry-on from existing cash and other liquid resources, or from within existing available commercial lending facility limits
• present a Farm Business Resilience Plan, satisfactory to QRIDA within a reasonable period of time.

How do you apply?

Find out more about eligibility and how to apply at Emergency Drought Assistance Loans.