3 January 2017: QRAA sustains low interest rates on productivity loans
3 January 2017
Queensland primary producers will continue to benefit from low interest rates to help them improve profitability and build their businesses, with QRAA announcing their latest rates effective 1 January 2017.
The new rates are 3.11 per cent for one year, 3.26 per cent for three years and 3.47 per cent for five years and apply to Sustainability and First Start Loans drawn down from 1 January 2017.
Chief Executive Officer Cameron MacMillan is pleased with this positive start to the new year.
“This is the first time interest rates have changed since the maximum amounts available under Sustainability and First Start Loans increased to $1.3 million and $2 million respectively late last year, and I’m thrilled that they’ve been able to stay so low,” he said.
“Combined with the new lending limits, the low rates hold enormous potential for Queensland producers looking to build their enterprise – whether that’s improving on an existing business, starting with their first property or putting a succession plan into action.”
Primary producers interested in how QRAA’s low interest loans can be put to work for their agribusiness goals are encouraged to contact their nearest QRAA Regional Area Manager, who can walk them through the loan features and application process.
For further information visit the Productivity Loans section of our website, or contact QRAA on Freecall 1800 623 946.
Note: Under the Rural and Regional Adjustment Act 1994 we are QRAA. Should clarification be required the preferred wording is ‘QRAA (formerly known as the Queensland Rural Adjustment Authority)’.
The Sustainability and First Start Loans are initiatives of the Queensland Government’s Primary Industry Productivity Enhancement Scheme administered by QRAA.