Loans for Tasmanian farmers and agribusinesses

Overview

The AgriGrowth Loan Scheme is an initiative of the Tasmanian Government providing low interest loans to Tasmanian farm businesses, young farmers and agri-food businesses. It will support projects that advance the government's Agrivision 2050 plan which aims to increase the value of the agriculture and agri-food sectors in Tasmania.

Low interest loans of $100,000 to $3 million are available. Loans are usually offered over a term of 5 years at a variable interest rate, with interest only payments available for the term of the loan.

Young farmers may only access loans of up to $250,000.

Successful applicants may receive up to 5 hours of free professional business planning or relevant advice.

Check if you can apply

To be eligible, you must be a Tasmanian farm business, young farmer or an agri-food business and:

• operate as a sole trader, trust, partnership or private company
• show a clear need for the loan
• include a minimum 3-year business plan that satisfies the department
• show ongoing financial viability with the loan application and business plan
• show that the venture will be make a profit within the agreed loan period
• have an Australian business number (ABN) and be registered for goods and services tax (GST).

Farm businesses must have at least 1 member of the farm business who:

• is a farmer and who generally contributes at least 50% of his or her labour
• generally derives at least 50% of his or her income from the farm business during the term of the loan.

Additionally, young farmers will:

• generally, be no more than 45 years old
• preferably not previously have been principal of a farm business and/or owned land for that purpose
• have suitable farming experience and be involved in the day-to-day operation of the farm.