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First Start Loan - Primary producer

The Queensland Government has announced an additional $30 million funding allocation, from $100 million to $130 million, for the 2019-20 First Start and Sustainability Loans.

Due to unprecedented demand this year, including in the immediate lead-up to the initial closing date of Friday 13 March 2020, any new applications received from now until 30 June 2020 will continue to be subject to available funds.

The 2020-21 round of funding will be available from 1 July 2020.

For more information contact one of QRIDA’s Regional Area Managers located across the state on Freecall 1800 623 946.

First Start Loans provide finance up to $2,000,000 to assist you into primary production.

First Start Loans can help you

Acquire your first farm business
First Start Loans can help your first steps towards achieving this goal by assisting you purchase a property or supporting your leasing or share farming arrangements.

Become a partner in the family farm
First Start Loans can assist you to purchase property from your parents or other family members, or enter a family partnership.

Achieve viability
First Start Loans can help you build your existing operation to stand-alone viability, for instance by:

  • improving infrastructure such as fences, water storages, grain and feed storage and irrigation
  • upgrading plant and equipment
  • purchasing livestock in specific circumstances
  • improving energy efficiency by uptake of current and renewable technologies
  • diversification into other on-farm enterprises.

Joint lending with a bank
QRIDA looks to work with your bank or other commercial lenders to achieve the best funding outcome for your business.

Please contact us discuss your goals and find out how our loans can help you.

Loan amount
  • Up to $2 million
Loan term
  • Up to 20 years
Interest rate
  • Low interest rates fixed for 1, 3 or 5 years
Fees and charges
  • Nil

If you meet the following requirements, you may be eligible for a First Start Loan:

  • resided in Queensland for six months
  • sound prospects for long-term commercial viability in the long-term development of the primary production enterprise
  • capacity to service the loan (QRIDA is required to determine that your enterprise and other forms of income are sufficient to service your debt; cover all enterprise operating costs; and support family living expenses)
  • demonstrate financial need
  • demonstrate adequate experience or other qualifications to give a reasonable prospect of success
  • ideally you should have equity of 50 per cent in relation to the purchase, or 50 per cent of set up costs for leasing and share farming. However, lower levels of equity are considered by QRIDA in certain circumstances including joint lending (including vendor finance), stable off-farm income/s or family support. Please give us a call to discuss your individual situation.
  • security must be provided commensurate with the amount of the loan

Terms and conditions

Our programs are subject to terms and conditions that identify the required eligibility criteria for each loan as outlined in the program guidelines. For further information regarding the eligibility criteria for First Start Loans, please contact us on Freecall 1800 623 946 or view the full terms and conditions in the First Start Loan guidelines.

Further information

Should you have any queries with regards to completing your application, please contact us on Freecall 1800 623 946 or contact your nearest Regional Area Manager in one of our regional offices.

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Last updated
18 March 2020