The Regional Investment Corporation is working with the Australian Government to develop a new Small Business loan and update its existing Drought loan.
“We understand the circumstances that drought affected communities are facing and the urgency to act now," said CEO Bruce King.
“We are working with the Australian Government to develop the policy in order to deliver these loans as soon as possible."
The Small Business Drought loan for amounts of up to $500,000 are for those small business that directly provide primary production related goods and services to farm businesses in the most drought-affected communities. It allows access to finance to provide the working capital required to help manage their businesses through this drought.
“A change to our Drought loan settings, will allow a two-year interest free period. This will give farmers and graziers the relief they require to manage through this drought. Longer term it’s a smart financial solution that can be used to assist their farm business’s recovery," said CEO Bruce King.
Farmers interested in the updated Drought loan or Small Business loan are encouraged to contact the RIC to register their details. They will be notified when the loan becomes available.
To register your details email info@ric.gov.au or call 1800 875 675 (Monday to Friday, 8:30am to 5:00pm local time).
Media Contact:
Julia Brown,
julia.brown@ric.gov.au
0478 401 158