Drought loans now open

Farm. Farmers affected by drought can now apply for a Drought Concessional Loan from the Australian government.

The scheme allows farmers to borrow up to 50 per cent of eligible farm business debt, up to $1 million.

Loans are for eligible farm businesses for the purposes of restructuring existing eligible debt (including a Farm Finance Concessional Loan), fund operating expenses necessary to continue the normal operations of the farm business or drought recovery and preparedness activities, or a combination of these.

Application Forms and Guidelines for the Drought Concessional Loan Scheme are available by phoning 1800 440 026 or visiting www.stategrowth.tas.gov.au.

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