Information on low interest loans during drought


Drought affected landholders seeking information on low interest loans can visit the Regional Investment Corporation site at the field days.

The Regional Investment Corporation opened on July 1 and delivers low interest loans to farm businesses doing it tough.

The Corporation offers 10-year loans at 3.58 per cent and farmers can borrow up to $2 million, with principal payments beginning from year five.

Farmers can refinance existing debt to boost cash flow or pay for operating expenses or capital to help make the future more certain.

Julia Brown, stakeholder engagement team, RIC, said the low interest loans gave farmers breathing space until the difficult times improved.

“Visit our stand at the field days to talk to our loan assessment officer, who knows agribusiness, or call us on 1800 875 675,’’ she said.