With many producers facing challenging conditions, it’s a great time talk to the Australian Government farm business lender, RIC (Regional Investment Corporation).
Since 2018, RIC, has supported more than 3,500 farm and farm-related businesses nation-wide with loans valued at over $3.77 billion (as at 31 March 2026). This includes more than $44 million in lending to Tasmanian producers.
Farm and farm-related businesses attending this year’s Agfest Field Days, are encouraged to connect with the RIC team, who will be onsite in the TAS Farmers Tent – Site 809, Eighth Ave.
You can talk to our team about the low-interest loans available for farm businesses impacted by drought, natural disasters or biosecurity risks, first-time farming and succession planning.
Having the right financial tools in place can make a real difference as you prepare for, manage through and recover from tough times, recover from setbacks, prepare for future season and move forward with confidence.
RIC offer eligible farm businesses producers low-interest loans with a current variable rate of 5.18 reviewed every 6 months. Most farm business loans provide breathing space to ease cash flow pressures with a 5-year interest only repayment period within the 10-year loan term.
The RIC AgriStarter Loan provides a pathway to owning your first farm or to support succession planning arrangements.
RIC works alongside your commercial lender where eligible farm businesses can borrow up to 50% of their commercial debt to refinance or take on new debt at lower interest rates which can bring good annual savings to support your farm business to manage through, recover and plan for the future when faced with significant financial impact from unforeseen events outside of your control.
Be RIC ready Before applying, check your eligibility by visiting www.ric.gov.au/before-apply, speak to your accountant or rural financial counsellor and notify your commercial lender or bank. Approval timelines may vary based on individual circumstances and loan complexity; however, preparation can make the application process smoother and improve the time to receive a decision.
RIC customers and Tasmanian dairy farmers, Chris and Suzanne Cowley have been farming at Circular Head in Tasmania’s northwest since 1997 and at their property at Mengha since 2004.
Dry conditions in northern Tasmania in 2017-19 reduced pasture growth and raised the cost of grain by 25 per cent. Poor milk prices added extra challenges, and the Cowleys realised they needed additional water security to grow pasture to sustain their dairy herd.
Thanks to RIC’s concessional interest rate and interest-only repayments in the first five years of the 10-year loan term, they were able to increase cash flow and invest in a new bore and pivots to increase their irrigation capacity from 58 hectares to 90 hectares.
“The RIC loan gave us the breathing space to turn the dial to a more positive cash flow, we could pay the bills every month, I mean I hadn’t been able to do that prior to getting the RIC loan, it was always a battle,” Mrs Cowley said. Her top tip for progressing a RIC loan application was having financial information on hand and simply, to “do it”, she said. “Have a go, to futureproof your business and look at opportunities for big projects that make your business sustainable,” she said.
Read more about The Crowley’s story
For further information on the loans available, talk to a RIC Agri Lending Specialist at the Agfest Fields Days on May 7 - 9 or call the team on 1800 875 675.