The Federal Government has agreed to make interest subsidies available for up to two years on loans of up to $300,000 that may have been taken out by businesses affected by the temporary suspension of live animal exports to Indonesia.
The Government’s Subsidised Interest Rate Scheme will be administered through State and Territory rural assistance authorities.
The subsidy is available for new or extended borrowings. To get started, candidates should contact the rural assistance authority in their state or territory to discuss the application process.
This new assistance is additional to the existing grants of up to $5500 available through Centrelink, and those grants can be used to pay for financial advice to decide whether to take out a loan in order to trade through the impacts of the suspension.
Information about the Subsidised Interest Rate Scheme and other assistance is available here.