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Primary Industry / Industry Programs / Farm Finance: Concessional Loans Scheme

Farm Finance: Concessional Loans Scheme

Farm Finance is an Australian Government initiative that aims to build the ongoing financial resilience of farmers struggling with high levels of debt. The Northern Territory Farm Finance: Concessional Loans Scheme will assist Northern Territory (NT) Farm Businesses which are experiencing debt servicing difficulties but are considered potentially viable in the longer term.

The NT Farm Finance: Concessional Loans Scheme is available to eligible farmers in the pastoral, horticultural, agricultural, aquacultural and apiculture industries and will be delivered by QRAA, on behalf of the NT. QRAA is a statutory authority of the Queensland Government and operates as a specialist administrator of government financial assistance programs to the rural sector.

Key features of the NT Farm Finance: Concessional Loans Scheme include:

  • Maximum loan amount of $1 million to restructure existing Farm Business debt
  • Minimum loan of $100 000
  • Loan term of up to five years
  • Concessional loan amounts will be less than 50 per cent of the total eligible debt of the Farm Business
  • Variable concessional interest rate initially set at 4.5 per cent (and re-set every six months)
  • Interest only repayments are available for up to five years
  • Full repayment of loans required at the end of the five-year loan term
  • The availability of loans is subject to funds being available. The Scheme is capped at $15 million per year for 2013-14 and 2014-15 (total of $30 million). No more loans will be offered once these caps are reached.

To help decide whether you and your Farm Business is eligible to be considered for a Concessional Loan, you should answer yes to all of these questions:

  1. Does my Farm Business have a demonstrated history of meeting its debt servicing requirements?
  2. Is my Farm Business in need of assistance to meet its current debt servicing requirements?
  3. Does my Farm Business have the ongoing support of its commercial lender(s)?
  4. Can my Farm Business meet all its financial commitments over the next five years if a Concessional Loan is provided?
  5. Can my Farm Business repay the Concessional Loan within five years, for example, through successfully obtaining commercial refinance?
  6. Can my Farm Business provide sufficient security for the Concessional Loan?

Please read the Farm Finance: Concessional Loans Scheme Guidelines for the Northern Territory as well as the Frequently Asked Questions for further information.

Application Forms and Guidelines

Application Period 2 - 1 July 2014 to 30 April 2015.

Application forms are provided below. 

Do not lodge incomplete applications.

Concessional Loans Scheme (Northern Territory) - Guidelines
» Download PDF » Download DOCX

Concessional Loans Scheme (Northern Territory) - Application Form
» Download PDF 

Concessional Loans Scheme (Northern Territory) - Business Plan
» Download PDF  » Download DOCX

Concessional Loans Scheme (Northern Territory) - Cashflow Form
» Download XLXS

Frequently Asked Questions
 » Download PDF » Download DOCX

Contact

DPIF has a Farm Finance Promotions Officer who can assist you with completing the application:

David Collinson
Email: industry.programs@nt.gov.au
Tel: 08 8936 4089

Completed application forms including required documentation should be sent to:

Farm Finance Northern Territory
C/- QRAA
GPO Box 211
BRISBANE   QLD   4001

Email: contact_us@qraa.qld.gov.au
Fax: (07) 3032 0300

(DO NOT SEND your application form to this department)
(To speak to a QRAA Customer Service Officer, please contact QRAA on Freecall 1800 623 946).