Farm Finance available for Tasmanian farmers

January 13, 2014

Tasmanian farmers can now apply for concessional loans as part of Farm Finance, with news the first application round has opened in Tasmania today.

Parliamentary Secretary to the Minister for Agriculture, Senator Richard Colbeck, welcomed the announcement and said it was great news for Tasmania farmers who could soon have access to greater financial support.

"Eligible farm businesses will have access to five year loans of up to $650,000 for productivity enhancement activities or to restructure existing farm business debt," Senator Colbeck said.

"These loans, at a variable concessional interest rate initially set at 4.5 per cent per annum, will assist farm businesses make good business decisions and become more profitable in the future.

"This is all about helping farmers and their families who need support no matter what the causes.

"I encourage farmers who are considering applying to go onto the website below and submit their applications. I understand applications are being considered on a first-in basis and I encourage farmers to apply soon," Senator Colbeck said.

"I know Tasmanian farmers are self-reliant and resilient, but I encourage farmers not to self-assess, to talk to an expert or a rural financial counsellor about their eligibility for a loan."

The loans are being delivered by Tasmanian Development and Resources with support from the Department of Economic Development, Tourism and the Arts (DEDTA).

Farmers can obtain more information on eligibility criteria and the application process, including the Scheme Guidelines for Tasmania, from DEDTA's website at www.development.tas.gov.au, or by calling the Farmer Liaison Officers at the TFGA on Freecall 1800 154 111 (within Tasmania).

The Australian Government also offers other support to any Australians in hardship. Farmers can also access the Rural Financial Counselling Service, the Farm Management Deposits Scheme and the Transitional Farm Family Payment.

For more information: Farm Finance and other Australian Government assistance measures

130114 Farm Finance available for Tasmanian farmers
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