Loan scheme will help farmers plan for a sustainable future

The Tasmanian Farmers and Graziers Association (TFGA) today applauded the official launch of the State’s Government’s pilot $10 million AgriGrowth Loan Scheme.

“The Government has once again shown that it is willing to do what it takes to expand agricultural production in Tasmania to $10 billion dollars by 2050,’’ TFGA CEO Peter Skillern said.

Under the scheme farm and agrifood businesses will be able to borrow between $30,000 and $1 million, especially for projects where there is a long lead in time until it delivers an income.

“In an ever-changing environment like the agricultural sector the ability to plan for a sustainable future without that element of risk is a great benefit to farmers. The loan scheme will encourage eligible businesses to keep farming, innovating and contributing to the Tasmanian economy without fear of permanently damaging their bottom line,’’ Mr Skillern said.

The loan scheme is open to producers involved in agriculture, fruit, wine and horticulture, aquaculture and apiculture, for agri-tourism, as well as down-stream value-adding businesses.

“We also welcome the opportunity to work closely with Rural Business Tasmania on the Agribusiness Planning Program to ensure that our members reap the benefits of the extra assistance and advice that will be available.”
TFGA chief executive Peter Skillern