Nothing sweeter than a family farm
Boy grows up on a farm, loves helping out his Dad, dreams of being a farmer and owning his own farm when he grows up.
Jane Jones
This scenario is a likely story among clients of the Queensland Rural and Industry Development Authority (QRIDA), with up to 45 per cent of Productivity Loan clients currently using a First Start Loan to help them enter primary production for the first time.
For Ayr cane farmers, Gavin and Jane Jones, the dream of owning their own property stemmed from Gavin’s childhood on the family farm.
Gavin and his wife Jane enjoyed working on his parent’s fourth generation farm. The time spent helping Gavin’s father fostered their love for farming and provided great insight into how to run a viable and sustainable enterprise.
“We wanted to purchase a property in our own right, and expand the operation so it could be sustainable for our family now and in the future,” Jane said.
“When the small 41 hectare farm across the road from Gavin’s parent’s farm came onto the market we knew this was our chance.”
“We spoke to QRIDA and were successful in securing a First Start Loan to fund this purchase.”
“The low interest rate and no fees or charges made the loan very attractive and affordable, and the local QRIDA Regional Area Manager, Peter Crowley, was very easy to deal with,” she said.
As a Certified Practising Accountant, Jane manages the financial side of the business and understands the repayment implications low interest loans can have on farm businesses.
“We found the fact that the loan was subject to payments of principal and interest, meaning we would be progressively reducing the debt and improving our equity position each year, very attractive,” she said.
The First Start Loan has let the Jones’ keep a keen eye on their end goal; Jane believes this is imperative to growing their capability.
“Managing family restructures and succession planning can be an emotional time for all involved, but the financial support available through QRIDA really eases the financial burden.”
“By the time Gavin is 45, we will own 81 hectares in our own right and with a bit of extra help from a QRIDA Sustainability Loan we will be well positioned for expansion and long term business success,” Jane said.
What started as a dream will turn into reality through planning, forethought and direction.
For more information visit QRIDA First Start Loan.
