New loan updates
Following the recent Australian Government announcement of new loan products to be delivered by RIC including the Marine Algal Bloom and Heatwave Loan and Drought Hardship Loan applications will be opening in 2026.
1. Marine Algal Bloom and Heatwave Loan
- Assist South Australian wild-catch fishers and aquaculture operators affected by the recent algal bloom.
- Eligibility, credit and risk assessment criteria apply.
2. Drought Hardship Loan
- Help with short-term operating costs for long-term drought
- For farmers in drought for at least 24 months and expect to be for another season
- Borrow up to $250,000
- Current variable interest rate 5.18%
- 5-year loan term
- No interest payments in the first two years.
- Interest will accrue, with principal and interest repayments to commence from Year 3 of the 5-year loan term.
- Eligibility, credit and risk assessment criteria apply.