RIC response to COVID-19

As the global response to coronavirus (COVID-19) continues to escalate, the Regional Investment Corporation (RIC) is focused on maintaining its service delivery.

To support this, the RIC has put a plan in place to ensure loan applications can continue to be processed while employees’ health and wellbeing is maintained as a priority.

RIC CEO Bruce King said that the RIC has implemented its COVID-19 Response Plan to maintain its customer service delivery and put protective measures in place for employees’ health during this time.

“It continues to be a difficult time for farmers and farm-related small businesses already struggling with drought, and now facing even further market challenges from coronavirus, so we’re focused on continuing to process their loan applications to get the money in their bank accounts as quickly as possible.

“The vast majority of our existing customers have RIC drought loans, so will already be benefiting from the two-year interest and repayment free period that came into effect on 1 January 2020. This should be providing some financial relief and allowing them to focus on managing through and recovering from drought,” said Mr King.

The RIC will continue to monitor the situation closely and will update its approach as the situation develops. In the meantime, the RIC is supporting working from home arrangements for staff and cancelling or postponing any non-essential travel.