Low interest loans available to assist drought affected producers

Beef Central, 11/05/2018

SOME financial relief is still available through the Australian Government’s low interest Drought Assistance Concessional Loans.

At Beef 2018 the Queensland Rural Industry Development Authority (QRIDA), which administers the loans in Queensland, said producers in the State can still take advantage of low interest loans of up to $1 million with a 5-year interest only period to support managing their enterprise during and then ultimately recovering from drought.

QRIDA Chief Executive Officer, Cameron MacMillan said the Australian Government has provided $50 million for Queensland in 2017-18 and these funds are still available through to 30 June 2018.

He urged producers not to self-assess, emphasising that eligibility for Drought Assistance Concessional Loans are based on many factors and properties falling outside of the one in twenty-year Bureau of Meteorology drought map can still be eligible by demonstrating at least 2 years financial impacts from drought.

“Please talk to one of QRIDA’s nine (9) Regional Area Managers located throughout Queensland who can visit on property and step producers through the application process.

“Some people don’t realise the broad range of programs we offer rural and regional Queensland. Put simply we’re here to assist our Queensland farmers”

Source: QRIDA. Primary producers seeking more information about concessional loans for tackling drought can visit the QRIDA stand in the Sidney Kidman Pavilion at Beef Australia or call now on Freecall 1800 623 946 or visit


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