First Start Loan for primary producers
A First Start Loan offers up to $2 million to aspiring producers ready to purchase their first block of land, carry out the family succession plan or achieve standalone viability.
What can the loan be used for?
A First Start Loan provides finance to help you:
- buy your first farm, including from family members
- become a partner in the family farm
- enter into leasing or share farming arrangements
- develop existing or purchase additional property to become viable
- put succession plans in place.
Loan assessment and security
QRIDA will assess applications for the 2021-22 round in the date order they are received complete up to 30 June 2022 or until available scheme funding is fully committed.
Security must be provided commensurate with the amount of the loan. For most loans, a mortgage over land provides adequate loan security. In some instances, loan security may also include other business assets such as water and livestock.
QRIDA may consider joint lending options with your bank or other commercial lenders.
When assessing your loan application, QRIDA always discusses this with you and your commercial lender.
Speak with The Money Edge on 07 4151 8898 or visit QRIDA’s website for further information including guidelines.