QLD Drought Ready and Recovery Finance Loans


QLD Drought Ready and Recovery Finance Loans

Flor- Hanly - Wednesday, April 20, 2022

Key program information

The Drought Ready and Recovery Finance Loan offers up to $250,000 to help primary production businesses undertake drought ready and recovery activities and improve drought resilience.

  • $250k total loan amount available
  • Up to 10 years loan term
  • Interest-only repayments for the first two years

What assistance is available?

Queensland based primary producers who may be ready to undertake on-farm capital improvement activities or restocking and replanting activities to improve the drought resilience of their primary production enterprise may be eligible for a Drought Ready and Recovery Finance Loan of up to $250,000.

Primary producers can now apply for a loan to a maximum amount of $250,000.

The loan aims to assist producers with the cost of implementing new on-farm permanent capital infrastructure or restocking or replanting activities as identified in the Farm Business Resilience Plan to improve drought resilience.

QRIDA is administering the Drought Ready and Recovery Finance Loans Scheme on behalf of the Department of Agriculture and Fisheries.

What can the loan be used for?

  • improving on-farm water infrastructure
  • implementing grain storage
  • reasonable freight components to purchase and install equipment or infrastructure
  • contractor costs or non-salaried employees’ costs directly associated with implementing the drought preparedness project
  • removing unviable crops, plants or trees and purchasing and planting new seeds, seedlings or trees; or
  • purchasing and vaccinating new stock or drenching new stock.

Please be aware this is not an exhaustive list. Please see the guidelines for a list of eligible activities.

For full eligibility requirements and the information needed to complete a Drought Ready and Recovery Finance Loan application, please visit https://www.qrida.qld.gov.au/program/drought-ready-and-recovery-finance-loans.

Contact Flor-Hanly's Agribusiness Accountants in Mackay for further assistance on 07 4963 4800.

Source: QRIDA

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