Marine Recovery Loan

The affected business must be an authorised aquaculture or wild catch fishing business. You will need to demonstrate that your affected business is in financial need of a concessional loan and provide evidence to show a material reduction in the business turnover because of the marine harmful algal bloom event that was first detected in March 2025 off the coast of South Australia.

RIC Agri Lending Specialists will assess a material reduction in turnover because of the marine harmful algal bloom by considering examples which may include turnover reduction and product/catch reduction. Potential applications are encouraged not to self-assess and to talk to the RIC team about their individual situation.

As part of your application process, you may be asked to provide evidence that your business meets the eligibility criteria. The types of evidence required will depend on the individual circumstances of your business. Contact us if you would like to discuss your application before compiling supporting documentation.

No. The Marine Recovery Loan has been designed to support with the long-term recovery of eligible primary production businesses in aquaculture and wild catch fishing. There may be other state and Australian Government financial assistance and grants available to support other small businesses such as tourism, recreation, hospitality, leisure and seafood processing who are not eligible for this loan. This was a decision of the Australian Government.

Yes. The loan can be used to refinance existing debt at a lower interest rate to improve cash flow, pay operating expenses such as salary, rent, utilities and other administrative costs, and capital expenditure to purchase, upgrade or maintain long-term assets that will provide benefits over multiple accounting periods such as property, plant, equipment, vessels and technology infrastructure.

To be eligible for a Marine Recovery Loan, you must be able to demonstrate your business has had a material turnover reduction because of the marine harmful algal bloom event. Please don’t self-assess. We encourage you to call us on 1800 875 675 to discuss your individual circumstances.

No. The Marine Recovery Loan is to help aquaculture and wild catch fishing businesses recover and rebuild after the South Australian harmful marine algal bloom event which started in March 2025.

Yes, you can repay your loan at any time.

Yes. Please check the eligibility criteria before applying and call the relevant organisations to discuss your individual situation. We encourage to not to self-assess.

RIC has multiple loans available for farm businesses and fish producers including a Drought Loan which can assist eligible farmers to prepare, manage through or recover from drought. Eligible industries may also apply for a RIC Farm Investment Loan if they’ve been financially affected by drought, natural disasters and other unforeseen cumulative impacts. Please read the guidelines and take the online quick quiz eligibility checker to discover if a RIC loan is right for you. Additional support programs available beyond RIC loans are listed on our website.

There are a range of additional support programs available to provide financial relief for eligible businesses including: 

• Licence Relief (open until 30 June 2026): Fee relief for commercial fishers impacted by algal bloom | PIRSA
• Small business grant (open until 31 July 2026): Algal Bloom Small Business Support Grant | Small and Family Business
• Fisheries and Aquaculture Assistance Grant (until 31 July 2026): Algal Bloom Fisheries and Aquaculture | Small and Family Business

RIC does not charge application fees or ongoing loan management fees. Borrowers may need to pay third-party costs associated with establishing, varying or managing their loan.

Yes. However, eligibility, credit and risk assessment criteria must be satisfied. Please do not to self-assess and contact RIC to discuss your individual situation.