Primary producers in New South Wales affected by declared natural disasters may be eligible for concessional loans through the Natural Disaster Relief Loan – Primary Producers Program, administered by the NSW Rural Assistance Authority (RAA).
🧾 Loan Overview
Loan Amount:
– Up to $130,000.
Interest Rate:
– 2.79% p.a. for 2023–24 declarations.
– 3.14% p.a. for 2024–25 declarations.
Loan Term:
Up to 12 years, including:
– 2 years interest- and repayment-free.
– Up to 10 years of principal and interest repayments.
Repayment Options:
– Monthly, quarterly, half-yearly, or annually.
Usage:
– Essential working capital for up to 12 months from the disaster date.
– Repair or replacement of property and assets damaged by the disaster.
✅ Eligibility Criteria
Applicants must:
– Be a primary producer (individual, partnership, trust, or company).
– Derive at least 50% of income from the primary production enterprise.
– Hold a current Australian Business Number (ABN).
– Contribute part of their labour and capital to the enterprise.
– Have a right or interest in a primary production enterprise located in a declared natural disaster area.
– Demonstrate the long-term viability of the farm and the ability to repay the loan.
– Provide security for the loan.
📅 Application Details
– Application Period: Open for six months from the date of the natural disaster declaration.
– Application Method: Submit online via the RAA website.
Required Documentation:
– Signed Mortgagee’s Consent Form.
– Last three years’ financial statements and tax returns.
– Monthly cash flow budget for the next 12 months.
– Current Local Government Area (LGA) and Local Land Services (LLS) rates notices.
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