Dairy Recovery Loans

Applications are now open for Dairy Recovery Loans under the Australian Government’s Farm Business Concessional Loans Scheme. The concessional loans are to assist eligible Dairy Farm Businesses affected by the May 2016 decision of Murray Goulburn Co-operative Co., Fonterra Australia Ltd and National Dairy Products Pty Ltd to reduce farm gate milk prices in the 2015/16 year.

Rural Finance is the delivery agent for the Scheme in Victoria on behalf of the state government

In short, the Scheme will offer:

  • Loans for the purpose of:
    • re-structuring existing eligible farm debt including existing Farm Finance and/or Drought Concessional Loans
    • funding operating expenses necessary to continue normal operations and/or
    • providing new debt for Productivity Enhancement Activities
  • Concessional loans for a maximum term of ten years.
  • A variable interest rate commencing at 3.09%.
  • A maximum loan amount of $1,000,000 (capped at 50% of the Farm Business’s Final Debt Position).

Loan applications will be assessed in order of receipt. Applications will only be accepted if they are fully completed and submitted with all mandatory supporting information required (see Application form).

The Farm Business Concessional Loans scheme will remain open for new applications through the 2017/18 financial year, or until funds are exhausted.

Need more help?

If you have any immediate queries about the Australian Government’s Farm Business Concessional Loans Scheme, please call us on 1800 260 425.

Assistance is also available from the Rural Financial Counselling Service which offers a free and confidential service and may be able to assist you. For more details please contact the Service directly on:

Eastern Region: 03 5662 2566
North Eastern Region: 1300 834 775
North Western Region: 1300 769 489
Western Region: 1300 735 578

November 2016