RIC low-interest loans offer financial breathing space for southwest Victorian farmers

Southwest Victorian farmers are taking advantage of low-interest loans from Australian Government specialist farm business lender RIC (Regional Investment Corporation) to improve cash flow and gain financial breathing space to manage through dry conditions.

RIC Chief Executive Officer John Howard has reminded southwest Victorian farmers that a RIC low-interest loan may be a valuable option to access financial support for their farm business.

“In southwest Victoria, farmers are recognising the benefits of RIC loans, using them to refinance part of their existing debt to save on their agribusiness loan repayments and free-up cash flow to buy feed and water for livestock and cropping, pay operating expenses, and purchase capital infrastructure to improve their water storage,” Mr Howard said.

“Our specialist team of agribusiness lenders are talking to farmers every day, and many tell us they just need some financial breathing space to manage through until they can get back on their feet.”

New RIC low-interest loan applications from southwest Victorian farmers have more than doubled to 57 from 1 January to 30 April 2025 compared to 23 during the same time in 2024 as drying conditions continue.

Key points for RIC loans in southwest Victoria

  • New RIC loan applications from southwest Victoria have more than doubled from 1 January to 30 April 2025 (57) compared to the same time last year (23). 
  • The southwest Victoria local government areas (LGAs) where the most loan applications have been received from are Moyne, Corangamite, Glenelg, and Colac Otway.
  • Since 1 July 2018 RIC has settled 383 loans valued at more than $344 million in Victoria as at 30 April 2025, including 49 loans valued at more than $46 million in south-west Victoria. 
  • More than 70 per cent of all Victorian RIC loans settled since 1 July 2018 are for the Drought Loan as at 30 April 2025.

The RIC Drought Loan is a concessional loan from the Australian Government and is available to help eligible farmers throughout the drought cycle – whether they are in drought, recovering or manage their business risks to prepare for future events.

Read ric.gov.au/loans/drought for more information and visit the ‘Before you apply’ web page to see if a RIC Drought Loan is right for you and help with how to apply or call us on 1800 875 675 to talk through your individual needs.

For existing RIC customers in financial hardship, please contact our specialist team on 1800 875 675 to discuss your options.

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Media Contact: E media@ric.gov.au | M 0435 168 885

About RIC
RIC (Regional Investment Corporation) is an Australian Government farm business lender providing low-interest loans for farmers and farm-related small businesses in financial need to strengthen Australian agriculture. RIC loans can be used for management, recovery and future proofing following severe business disruption due to drought, natural disasters, biosecurity issues or other significant market events. RIC loans can also help farm businesses to establish farm businesses for first generation farmers or succession planning for next generation farmers. RIC’s vision is to build thriving regional communities. Since 1 July 2018 RIC has settled 3345 loans valued at more than $3.56 billion as at 30 April 2025.