LOCAL farmers on the South Coast can now access concessional loans of up to $650,000 as part of the Farm Finance Concessional Loans scheme.
The NSW government has agreed to terms with the federal government, allowing the scheme to provide up to $60 million over two years to eligible farmers.
The scheme will allow eligible farm businesses to restructure existing debt in the form of low-interest loans.
The package is designed to support producers who are experiencing debt-servicing difficulties.
Eligible producers are able to apply for loans up to $650,000 with a variable interest rate starting at 4.5 per cent.
The concessional interest rate for the loans will be reviewed on a six-monthly basis.
For further information regarding the eligibility criteria, loans terms and how to apply, visit www.raa.nsw.gov.au or call (toll free) 1800 678 593.