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Struggling farmers running out of time for finance aid

SOUTHERN Downs farming businesses have until October 31 to apply for the first round of Farm Finance Concessional Loans Scheme.

Concessional loans of up to $650,000 are available for debt restructuring purposes to help eligible farm businesses who are experiencing debt servicing difficulties but are considered potentially viable in the longer term.

The loans are available through QRAA at a variable interest rate (currently 4.5%) and provide interest only payments for up to five years.

QRAA acting chief executive officer Tony O'Dea is urging Queensland farm businesses to apply, as funds are still available for restructuring eligible farm debt.

"$20 million has been made available for the first 2013-14 application period and opportunity still exists for farm businesses to apply for this assistance," Mr O'Dea said.

"If you need advice about your eligibility or the application process, please contact QRAA to discuss your situation."

Farm businesses should note that applications are assessed in order of receipt and must be fully complete before they can be considered for assessment. Producers can obtain more information by phoning QRAA on Freecall 1800 623 946 or visiting the website qraa.qld.gov.au.

A second application period for 2013-14 will open in early 2014.

Topics:  farm finance farm products qraa


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