Hon Ken Baston MLC

Hon Ken Baston MLC

Former Minister for Agriculture and Food; Fisheries

    Farmers must act soon on concessional loans

    26/05/2015 12:00 AM
    • Applications for concessional loans close on June 30, 2015

    Agriculture and Food Minister Ken Baston is urging Western Australian farm businesses to act soon in applying for concessional loans.


    Applications for the Farm Finance and Drought Concessional Loans schemes, funded by the Australian Government and administered in WA by the State Government's Rural Business Development Corporation, will close on June 30, 2015.


    The schemes offer eligible farm businesses loans of up to $1 million at concessional rates.


    Mr Baston said Drought Concessional Loans could be used for debt restructuring, operating expenses and drought recovery and preparedness activities, while Farm Finance Concessional Loans could be used for debt restructuring and productivity enhancements. 


    "These loans are designed to assist businesses that are experiencing tough financial conditions," the Minister said.


    "I remind farm business owners and operators who are interested in applying not to self-assess their eligibility, but make the free phone call to assessors."


    Eligible farming activities include broadacre, pastoral, horticulture, dairy, intensive agriculture and aquaculture.


    Loan applications for both Farm Finance and Drought Concessional Loans close at 5pm on June 30, 2015, or when funds are fully committed, whichever is sooner.


    Fact File

    Minister's office - 6552 5400