Regional Investment Corporation offers low-interest farm loans

FINANCIAL RELIEF: New Regional Investment Corporation launches with low-interest drought and farm investment loans for farmers nationally, replacing the federal farm loans scheme. Picture: Brodie Weeding
FINANCIAL RELIEF: New Regional Investment Corporation launches with low-interest drought and farm investment loans for farmers nationally, replacing the federal farm loans scheme. Picture: Brodie Weeding

Tasmanian farm businesses can apply for low-interest farm loans from the newly-launched Regional Investment Corporation.

The corporation is the new national administrator for the federal government’s farm loans scheme, chairman David Foster said.

“Our goal is to make sure viable farmers in need can access our finance to help them through the tough times so they can thrive in the good times,” Mr Foster said.

Under the corporation, more Australian farm businesses will be eligible for low-interest loans and there is more flexibility around how the loan can be used.

“Our loan products will be easy to access through a consistent assessment process, which means every farmer will be treated the same regardless of where they live,” he said.

Farmers can apply for drought loans and farm investment loans.

Contact the Regional Investment Corporation on 1800 875 675 to discuss your circumstances, or visit www.ric.gov.au for more information.