QLD: RIC AgRebuild loan (North Qld flood)

Regional Investment Corporation
Closing Date: 30 June 2020

Farmers affected by the North Queensland floods can use this loan to:

  • Replant, restock and recover after the North Qld flood
  • Restore or replace on-farm infrastructure lost or damaged because of the North Qld flood
  • Pay for operating expenses relating to damage from the North Qld flood
  • Refinance existing debt
  • As the co-contribution to access QRIDA’s North Queensland Restocking, Replanting & On-farm Infrastructure Grants

Overview:

  • No fees
  • ​Concessional interest rate
  • Up to $5 million
  • Available until 30 June 2020

 

Key Criteria:

  • Farmers directly impacted by the North and Far North Queensland Monsoon Trough from 25 January to 14 February 2019 (North Qld flood)
  • Eligible local government areas are Burdekin, Burke, Carpentaria, Cloncurry, Douglas, Flinders, Hinchinbrook, McKinlay, Richmond, Townsville and Winton. If you are not located in one of the above LGAs and have a Department of Agriculture and Fisheries (DAF) Individual Disaster Stricken Property (IDSP) Notice, you may still be eligible.
  • 50 percent of your commercial debt must remain with a commercial lender, except in cases of extreme hardship, where you’ve lost all or most of your stock or crops because of the floods. In those circumstances, we may take 100 percent of the debt.
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