Low interest rates announced for Productivity Loans
Jan 06, 2016
QRAA Chief Executive Officer, Cameron MacMillan has announced low interest rates for the Queensland Government’s Sustainability and First Start Loans for primary producers.
Fixed interest rates for loans drawn down from 1 January 2016 are 3.39 per cent for one year, 3.38 per cent for three years and 3.56 per cent for five years.
Queensland primary producers can access Productivity Loans of up to $650,000 to improve the viability of their primary production enterprise.
The loans have no set up or exit fees, no hidden costs and repayment terms of up to 20 years. The option of joint lending with commercial banks is also available for producers who need additional finance beyond the maximum productivity loan amount of $650,000.
Producers wishing to apply must ensure they submit complete applications, as applications are assessed in order of receipt and only complete applications can enter the assessment queue.
Producers should not self assess – QRAA Client Liaison Officers are available to meet on-farm to discuss the loan criteria, terms and conditions and assist with the application process.
For further information visit www.qraa.qld.gov.au or contact us on Freecall 1800 623 946.
The Sustainability and First Start Loans are initiatives of the Queensland Government’s Primary Industry Productivity Enhancement Scheme administered by QRAA.