QLD: First Start Loan – Primary Producer

Queensland Rural and Industry Development Authority
Closing Date: 30/6/21

The Queensland Government has provided $100 million for the 2020-21 financial year.

First Start Loans provide finance to help you:

  • Acquire a viable primary production business in its own right
  • Build to a viable primary production business by:
    • acquiring and operating a primary production business on a staged basis where you have defined longer-term plans; or
    • entering into lease or share farming arrangement; or
    • upgrading or building-up an existing non-viable business
  • Entering an existing family production business as part of a longer term plan to operate a viable primary production business in your own right.

Key Criteria:

To be eligible to receive assistance under the program, the applicant must:

  • have resided in Queensland for six months
  • not own, or have disposed of, a viable primary production enterprise
  • demonstrate financial need for the assistance
  • if the loan is to enter the existing primary production enterprise or buy the applicant’s parents’ or other family member’s assets, be able
    to demonstrate:

    • the parents or family member is not in a financial position to completely effect a transfer of the assets
    • the purchase is not merely a refinance arrangement
  • demonstrate adequate experience or other qualifications to give the applicant a reasonable prospect of success in the particular industry the
    applicant wishes to enter
  • be able to demonstrate:
    • for buying a primary production enterprise, the applicant will have 50% equity in the enterprise
    • for a leasing, share farming or sharefishing arrangement, the applicant will pay 50% of the set up costs of the enterprise and; Queensland Rural and Industry Development Authority (QRIDA)may, in relevant circumstances, vary the amount of equity in the enterprise that the applicant is required to demonstrate. Example – An applicant has a stable wage, salary or other off-farm income.
  • demonstrate adequate funding for carry-on purposes
  • demonstrate sound prospects for commercial viability in the long term development of the primary production enterprise, in accordance with
    the planned progression, and the capacity to service the proposed debt from the enterprise and other forms of income
  • trade in the applicant’s own right or satisfy QRIDA that their entry into the existing primary production enterprise of their parents or other family member is part of a longer term plan to ultimately trade in their own right
  • provide a management plan that shows the stages of a planned progression towards a viable first primary production enterprise
Visit WebsiteSave For Later

Boost Grant Categories:

New BusinessLoans

Grant State:

Queensland

Related Grants