RIC low-cost loans webinar

Australian Government farm business lender, RIC (Regional Investment Corporation) is hosting a free online webinar for farmers, advisers and agriculture industry representatives to learn more about how RIC’s low-cost Farm Investment Loan can help support farm businesses to rebuild and recover after severe business disruption.

RIC is the Australian Government’s specialist farm business lender providing low-cost loans to farmer businesses in financial need to assist them to recover, rebuild and prepare for the future.

One of RIC’s loans, the Farm Investment Loan, provides up to $2 million over a 10-year term with the first five years interest only, then principal and interest for the next five years. The current variable interest rate is 5.18 per cent and there are no fees to apply, make extra repayments, or for early loan repayments.

To be eligible, farm businesses must show that their underlying business is solid, but that they need help to recover following an unforeseen event that has financially impacted their business, like drought or other natural disasters, disease outbreaks, or pest and weed incursions.

With increasingly dry conditions, and various other weather and biosecurity events in recent times, a RIC loan could be an option to provide much needed financial relief to help farmers get back on their feet.