Time running out for Farm Finance Concessional Loans

Tasmanian farmers have until the end of April to apply for concessional loans under the Australian Government’s Farm Finance package that aims at assisting them to finance their businesses.

The Tasmanian Farmers and Graziers Association, which administers the scheme here, says applicants should get their applications in sooner rather than later.

This is the second tranche of loans for Tasmania with $15 million allocated to the state under the Farm Finance Concessional Loans Scheme.

The TFGA has a specialist liaison officers on its staff, Mark Gaetani, to assist with applications. Mark can be contacted on Freecall 1800 154 111.

Farmers can use the concessional loans to enhance their productivity on the farm or to restructure their debt, which may not be mutually exclusive. They are capped at $650,000 and carry a variable interest rate, currently 4.34 per cent.

The loans can be a really important tool, according to Mr Gaetani.

“For some, debt restructuring has been a high priority, particularly for those hit by depressed commodity prices and adverse weather conditions.

“But time is running out,” he said.
Tasmanian Farmers and Graziers Association