North West graziers and farmers affected by the monsoonal trough event earlier this year are reminded of the AgRebuild Loan (North Qld flood) available from the Regional Investment Corporation (RIC).
“Following mustering, North Queensland graziers will have a much better understanding of what their requirements are for livestock replacement and the funds needed to repair infrastructure,” RIC Business Development Manager, Craig Turner said.
“I want to remind graziers of the AgRebuild Loan which can be used to restock, replant crops and to refinance existing debt to free up cashflow. Applications close 30 June 2020.
“These loans can also be used as your co-contribution to access the $400,000 North Queensland Restocking, Replanting and Infrastructure Grants.
“If you are not ready to restock just yet, use our AgRebuild Loan to access working capital to ensure your business remains on a stable footing while you consider your options,” Mr Turner said.
The loans are for up to $5 million and have a 10-year term. The first 2 years are interest free with no repayments, then 3 years interest only, with the final 5 years principal and interest.
The loans are tailored to your business requirements allowing for reduced principal and interest repayments in the final 5 years, so the balance of funds can be refinanced by your commercial lender.
Graziers are encouraged to not self-assess. Contact the Regional Investment Corporation for further information. Visit ric.gov.au or call 1800 875 675 (Monday to Friday; 8:30am – 8:30pm local time).
Media Contact: Craig Turner 0466 515 307