From Friday, August 16, Queensland producers can apply for Farm Finance Concessional Loans of up to $650,000, with the QRAA providing $60 million over two years to support farmers struggling with debt.

Agriculture, Fisheries and Forestry Minister John McVeigh said $20 million was being made available in the first of two application periods in 2013-14 financial year, and the loans "will give producers time to get their finances in order and back on their feet."

The first period will open on August 16 and close on October 31, 2013, with eligible producers able to apply for loans up to $650,000 with a variable interest rate starting at 4.5 per cent. The loans will be interest-only for up to five years.

Mr McVeigh said an estimated 100 to 150 viable producers with temporary debt financing difficulties will receive assistance through the program.
 
“Producers should note that applications will be assessed in the order of receipt and must be fully complete before they enter the queue.”

Producers can apply for the loans through QRAA by calling 1800 623 946 or visiting their website www.qraa.qld.gov.au. More details about the Farm Finance Concessional Loans Scheme are currently available on the QRAA website.

Details of the second application period for 2013-14 will be published on the QRAA website ahead of time.