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.
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Ensure your application is complete, accurate and signed
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The RIC will contact you to provide an update on the status of your application
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The RIC will contact you to discuss your loan application
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Your bank will be in contact during this stage to finalise settlement
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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.