Have you developed your Farm Business Resilience Plan yet?
Did you know that 95% of applicants who create a plan with the assistance of the Farm business Resilience Program meet the requirements of this Scheme prior to accessing this financial support?
We strongly recommend you seek the assistance of the free Farm Business Resilience Program best suited to your industry. Click here for the list of program providers.
What assistance is available?
Queensland-based primary producers who may be ready to undertake on-farm capital improvement activities or restocking and replanting activities to improve the drought resilience of their primary production enterprise may be eligible for a Drought Ready and Recovery Finance Loan of up to $250,000.
Primary producers can now apply for a loan to a maximum amount of $250,000.
The loan aims to assist producers with the cost of implementing new on-farm permanent capital infrastructure or restocking or replanting activities as identified in the Farm Business Resilience Plan to improve drought resilience.
Eligibility requirements
To be eligible for a Drought Ready and Recovery Finance Loan, applicants must:
- demonstrate at least one person in the primary production business is a primary producer
- demonstrate that the project/s and activities identified in the Farm Business Resilience Plan will improve the drought readiness and recovery prospects of the primary production business
- have prospects for viability and the ability to service the loan
- present a Farm Business Resilience Plan satisfactory to QRIDA and
- demonstrate to the satisfaction of QRIDA, for drought recovery finance for replanting or restocking, that the seasonal conditions have improved following drought to enable the restocking or replanting activities.
To be eligible for a loan, applicants must also not have:
- made an application to the Department of Agriculture and Fisheries supported by an invoice issued in the past six month period for assistance under:
- a freight subsidy under the Drought Relief Assistance Scheme; or
- the Emergency Water Infrastructure Rebate under the Drought Relief Assistance Scheme.
What can the loan be used for?
- improving on-farm water infrastructure
- implementing grain storage
- reasonable freight components to purchase and install equipment or infrastructure
- contractor costs or non-salaried employees’ costs directly associated with implementing the drought preparedness project
- removing unviable crops, plants or trees and purchasing and planting new seed, seedlings or trees, or
- purchasing and vaccinating new stock or drenching new stock.
Please be aware this is not an exhaustive list. Please see the guidelines for a list of eligible activities.
