RIC loan process

A RIC loan is a partnership between your farm business, your commercial lender and us, the RIC.
When applying for a RIC loan your application will follow this 4-step process.

Step 1: Application received and checked to make sure it is complete
Step 2: Your application information is uploaded for assessment
Step 3: Application assessment and decision
Step 4: Application quality assurance check and settlement
Ensure your application is complete, accurate and signed
The RIC will contact you to provide an update on the status of your application
The RIC will contact you to discuss your loan application
Your bank will be in contact during this stage to finalise settlement

 

Loan processing timeframes

All new loan applications received in 2022 are being processed within the RIC’s 65 handling days, excluding third parties, for 80% of loans.

Variation Request

Request a variation to your loan agreement by submitting updated information.

A Variation Request is needed where circumstances trigger a change in the underlying security for your loan e.g. sale or purchase of land, change of loan amounts with your primary lender.

Click here to submit a Variation Request

Decision Review Request

If you disagree with our decision on your loan application, you can request a review of that decision.

You must submit the Decision Review Request in writing to us within 30 business days of receipt of the decision notification.

Click here to submit a Decision Review Request