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FAQs - White Spot Disease Concessional Loan

Who is eligible for the Concessional Loan?

The White Spot Disease Concessional Loans are designed to help prawn farmers in the Logan and Albert River catchments who have been directly affected by the outbreak of white spot disease.

What activities are eligible under the Loan?

Eligible activities are those which assist in the recovery of the prawn farm by improving productivity and long term viability, biosecurity controls and/or diversifying the primary production enterprise.

Biosecurity measures such as bird netting, crab exclusion fencing, lining of ponds and waterways, infrastructure to manage access to your property, water treatment and filtration and other protocols as suggested by Biosecurity Queensland are eligible.

Investment in value adding such as increasing cold storage capacity and/or implementing energy conservation techniques or alternate energy generation solutions will also be considered.

Can a White Spot Disease Concessional Loan be used to purchase livestock?

Yes. The loan can cover the purchase of prawns for restocking purposes and to ensure access to the best genetic stock available to ensure a prompt return to profitability. Loan funds can also be used to purchase alternate marine species to be farmed in the aquaculture enterprise. Stock purchases need to be arms-length and on commercial terms. Your Management Plan should clearly detail how this purchase links into your recovery from white spot disease.

The eligibility criteria requires the primary production enterprise has been carried on for at least two years. How will QRIDA determine my eligibility under this criterion if I have been out of production for a period of time?

If you can provide evidence you were trading at the time of the outbreak and were directly affected by White Spot Disease you may be eligible for a loan.

Is there a maximum loan amount?

Yes. The maximum loan amount for a White Spot Disease Concessional Loan is $3,000,000.

Provided there is sufficient security and the ability for the enterprise to service increased borrowings exists, access to funds under QRIDA’s existing Sustainability Loan program  may also be available to assist with productivity improvements.

If I’m approved, will I immediately have to start making principal and interest repayments?

To allow flexibility, QRIDA allows a maximum interest only period of up to five years with a satisfactory business case.

It is understood that impacted prawn enterprises will require time to rebuild their production and markets. With this in mind QRIDA will work with you to tailor your loan term and repayment arrangements to your income patterns.

Do I need to provide security for a loan? What kind of security is required?

Yes. Security must be provided for loans issued under the scheme commensurate with the amount of the loan.

Security may be in the form of land or other assets of the business.

QRIDA will work with your existing commercial lenders to negotiate suitable security for your loan.

What should be included in my management plan?

A template for a management plan which is required to be submitted with your application is available online - click here to download a copy.

Your plan will set out how the activities you are proposing and how they will meet the eligible purposes of the scheme.

Last updated
7 July 2017