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26 September 2016: Additional $15 million available for Queensland’s drought-affected producers

26 September 2016

The Australian Government has allocated an additional $15 million to assist Queensland’s drought-affected producers access loans of up to $2 million as the state finally begins to recover from prolonged drought.

The loans are available from QRAA under the Australian Government’s Drought and Drought Recovery Concessional Loans Schemes which close to applications on 31 October 2016.

Producers can access up to $1 million from each scheme to manage and recover from drought. With concessional interest rates as low as 2.66 per cent, these loans give much-needed breathing room throughout tough times, and fund restocking and replanting efforts when conditions improve.

“Over $141 million in drought assistance has already been approved to hundreds of Queensland producers,” said QRAA Chief Executive Officer, Cameron MacMillan.

“The $15 million top-up is the result of sustained demand as Queensland recovers from one of the worst droughts on record. The extra funds will help even more hard-working farmers and graziers overcome harsh conditions.”

The Drought Recovery Concessional Loans offer a 2.66 per cent interest rate and have a unique pre-approval process to allow producers to get back on their feet as quickly as possible.

“This means that even if you’re yet to receive sufficient rainfall, you can apply for the funds now and be ready to start restocking or replanting when conditions improve,” Mr MacMillan said.

Burdekin Canegrowers chairman, Phil Marano, is one producer who has already taken advantage of the available assistance.

Mr Marano accessed a Drought Concessional Loan from QRAA in early 2016, and strongly recommends others partner with QRAA to reduce the financial pressures of drought.

I’ve been spreading the word to other producers in the region about the benefits of the Drought Loans from QRAA and encouraging them to speak with QRAA about their refinancing options,” he said.

Potential applicants are urged not to self-assess, and to contact their local Client Liaison Officer (CLO) who can walk them through the requirements and application process.

“Peter Crowley [CLO for North Queensland] was great to deal with,” Mr Marano said. “He provided all the information I needed and it was helpful to have someone in the region I could meet with about my application.”

Producers can find more information and start the process at www.qraa.qld.gov.au

Last updated
10 May 2017