Media Releases

7 July 2009 - Drought Carry-on and Drought Recovery Loans extended for 12 months

Drought affected primary producers in a number of eligible Queensland Local Government areas have been granted a 12 month extension to access financial assistance under QRAA’s Drought Carry-on and Drought Recovery Loan programs.

The Minister for Primary Industries, Fisheries and Rural and Regional Queensland, Tim Mulherin, recently approved the 12 month extension until 30 June 2010.

QRAA Chief Executive Officer, Colin Holden said the one-year extension to the Drought Carry-on and Drought Recovery Loan programs can provide producers with the opportunity to access finance to assist with carry-on during the drought and recovery requirements after the effects of the drought have subsided.

“As of 1 July 2009, the new eligible Local Government areas for Drought Carry-on Loans are Dalby Regional Council, Goondiwindi Regional Council and Toowoomba Regional Council.”

“Producers located in all Queensland Local Government areas except for the shires of Aurukun, Etheridge, Flinders, Hinchinbrook, Mornington, Torres and Townsville City are eligible to apply for Drought Recovery Loan assistance, ,” Mr Holden said.

“I strongly encourage affected producers located in these regions to submit an application to QRAA and take advantage of these beneficial assistance programs,” Mr Holden said.

Drought Carry-on Loans provide eligible producers with carry-on finance of up to $100,000 to help combat the effects of drought and to allow operations to continue during the drought.

Drought Recovery Loans provide eligible producers with finance to cover costs associated with recovering from the drought, including up to $200,000 for the purchase of breeding stock or up to $100,000 for the purchase of other livestock to enable post drought restocking, or up to $60,000 for the purchase of seed, seedlings, chemicals, fertiliser and fuel for cropping purposes.

As with all of QRAA’s loans, no fees and charges apply to Drought Carry-on and Recovery Loans and they attract low interest rates of 4.23% for one year fixed, 5.09% for three years fixed and 5.79% for five years fixed (rates are current as at 1 July 2009, subject to change 1 January 2010).

“If you are unsure about eligibility for the support, would like assistance with the application process or are seeking further information, I encourage you to contact QRAA on Freecall 1800 623 946 or www.qraa.qld.gov.au.”

“Our Client Liaison Officers located in Bundaberg, Innisfail, Kingaroy, Longreach, Mackay, Rockhampton, Roma and Toowoomba are also available to provide you with assistance and can visit you on farm to answer any questions you may have,” Mr Holden said.

Further information about the Drought Carry-on and Recovery Loans application process and guidelines can be obtained by contacting QRAA on Freecall 1800 623 946 or at www.qraa.qld.gov.au.

For Media Enquiries                                                                               Date: 7 July 2009
Contact QRAA-  CEO Colin Holden
Phone number: (07) 3032 0122