The Australian Government has recently announced $30 million to support farmers dealing with drought conditions across Victoria.
Loans of up to $1 million are now available, and are designed to help farmers recover from and prepare for future droughts. These loans can be used for the purposes of re-structuring existing farm debt, funding farm operating expenses (for continuing normal operations), or preparing for drought and recovery into the future.
RSM believes that many of our farming clients will need to substantially increase their debt level over the next 12 months. If eligible, this scheme will provide funds at very low interest rate and can be on interest only terms.
Our firm has the capacity and expertise to assist you with:
- Preparing the application form
- Compiling supporting financial statements and income tax returns
- Verifying identification documents
- Preparation of cash flows
- Negotiating with Rural Finance
- Applying for Centrelink Farm household Support
- Assistance with Youth Allowance, Low income Health Care Card and other Centrelink applications
- Aged Care Applications
It is important that you should lodge your application as early as possible as there is only $30 million available on a first in basis.
If you wish to know more about the Drought Concessional Loans scheme, please contact Bill Beard on 03 5330 5800