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First Start Loan - Commercial fisher

First Start Loans provide you with concessional finance up to $2 million and are aimed at assisting you in the initial years of establishing your Queensland based commercial wild-catch business.

First Start Loans may be used to assist you to:

  • acquire a viable wild-catch business in its own right
  • build to a viable commercial wild-catch business by:
    • acquiring and operating a wild-catch fishing business on a staged basis where you have defined longer-term plans; or
    • entering into lease or share fishing arrangement; or
    • upgrading or building-up an existing non-viable business
  • entering an existing family commercial fishing business as part of a longer-term plan to operate a viable commercial wild-catch fishing business in your own right.

The Queensland Government has provided $100 million for the 2020-2021 financial year.

Please read through the Scheme Guidelines to confirm your eligibility and collect the necessary documentation before proceeding with your application.

Note QRIDA will assess First Start Loan applications for this 2020-21 round in the date order they are received complete up to 30 June 2021 or until available scheme funding is fully committed.

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.

Loan amount
  • Up to $2,000,000
Loan term
  • Up to 20 years
Interest rate
  • Low interest rates fixed for 1, 3 or 5 years
Fees and charges
  • Nil
Eligibility

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 development of the wild-catch fishing business
  • demonstrate financial need (Note: This does not require a decline by your commercial lender)
  • provide an adequate business plan
Security  
  • security must be provided commensurate with the amount of the loan
Last updated
3 September 2020