Components

First Start Loan

A First Start Loan can provide you with concessional finance of up to $2 million to assist you in the initial years of establishing your Queensland based primary production business.

QRIDA Program
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Key program information

$120m FY 2023-24

Total First Start and Sustainability Loan funding

Up to 20

Year loan terms

Up to $2m

Total loan amount available

Interest rate

Low, fixed rates for 1, 3 or 5 years

No fees

No charges or fees on loan

1 July 2024

New round of funding available

Last tile

Program funding

Total funding available

$120,000,000

Total funding approved

$64,280,239

as at 1 March 2024.

Apply now

First Start Loan for primary producers

Take the right step towards your future career in the agriculture industry.

A First Start Loan offers up to $2 million to aspiring producers ready to purchase their first block of land, carry out the family succession plan or achieve standalone viability.

A First Start Loan provides finance to help you:

  • buy your first farm, including from family members
  • become a partner in the family farm
  • enter into leasing or sharefarming arrangements
  • develop existing or purchase additional property to become viable
  • put succession plans in place.

 

Considerations regarding 50% equity for First Start Loans

QRIDA can consider lesser levels of equity in some circumstances including joint lending, vendor finance, if you have stable income outside of primary production, or if you have family support. 

Lesser levels of equity may also be possible if you are building to a viable position on a staged basis while having some reliance on off-farm income. Speak to QRIDA for more information. 

Interest rates

View the current interest rates here.

Loan assessment and security

QRIDA will assess applications for the 2022-23 round of funding in the date order they are received complete up to 30 June 2023 or until available scheme funding is fully committed.

Security must be provided commensurate with the amount of the loan. For most loans a mortgage over land provides adequate loan security. In some instances, loan security may also include other business assets such as water and livestock. 

QRIDA may consider joint lending options with your bank or other commercial lenders. 

When assessing your loan application, we always discuss this with you and your commercial lender. 

Next steps

Speak to your Regional Area Manager or check your eligibility by reading the guidelines below.

Apply now

To email your application, please attach documents as a pdf, jpeg, png, doc or excel. Please do not send links. If the file is too large, please send in multiple emails or as a zip file attachment.

If mailing your application, please do not include original documents as we are unable to return them.

First Start Loan for commercial fishers

A First Start Loan will provide you with concessional finance of up to $2 million to assist you in the initial years of establishing your Queensland based commercial wild-catch business. 

What can I use the loan for?  

A First Start Loan provides finance to help you:

  • buy your first commercial wild-catch business, including from family members
  • become a partner in a commercial wild-catch business
  • acquire and operate a commercial wild-catch fishing business on a staged basis as part of defined longer-term plans
  • enter into leasing or share fishing arrangements
  • upgrade or build up an existing non-viable commercial fishing business
  • put succession plans in place.

Interest rates

View the current interest rates here.

Loan assessment and security

QRIDA will assess applications for the 2022-23 round of funding in the date order they are received complete up to 30 June 2023 or until available scheme funding is fully committed.

Security must be provided commensurate with the amount of the loan.

Next steps

Speak to your Regional Area Manager or check your eligibility by reading the guidelines below.

Apply now

To email your application, please attach documents as a pdf, jpeg, png, doc or excel. Please do not send links. If the file is too large, please send in multiple emails or as a zip file attachment.

If mailing your application, please do not include original documents as we are unable to return them.

Primary producer Commercial fisher
Loan

Last updated: 08 March 2024