The Regional Investment Corporation (RIC) is a new government agency that encourages growth, investment and resilience in Australia’s regional communities. It provides financial solutions for Australian farmers, who due to circumstances outside their control, are in financial need.
The RIC’s low interest farm business loans can make your future more certain. The loans have a 10 year loan term with the first five years interest only. With an interest rate of 3.58% and up to $2 million dollars available they certainly are an attractive form of finance.
Launched on 1 July 2018 the RIC has been on the ground delivering information sessions on their products in areas identified as most in need, including Injune, Roma, Toowoomba, Dubbo, Orange, Muswellbrook, Tamworth and Moree. They have also attended field days in Orange, Henty and Gunnedah.
However, the small team can’t be everywhere at once, so this online event on Farm Table will allow information on the RIC and its products to be delivered across Australia to all producers in a consistent way.
If you want to know more about a RIC loan for your farm business, or are advising farmers on their finances we encourage you to register.
The webinar video will guide producers through eligibility, terms and the application procedures of the RIC loans. RIC experts will be present to ask any questions you have on these loans during the webinar.
MATT RYAN: Interim CEO
Matt Ryan will be accompanied on the webinar and be available for answering questions along with Chris Langridge, A/g Director Farm Loans Policy, Liz Rodway A/g Communications Manager.
Eligibility criteria for the RIC’s loans are the same across all states and territories across Australia. RIC loans can be used to refinance existing debt to free up cashflow, or pay for operating expenses or capital. The RIC encourages farmers not to self assess, instead call one of their loan assessment team on 1800 875 675 or visit ric.gov.au. They know agribusiness and can talk through your situation. If you want to know more about a RIC loan for your farm business, or are advising farmers on their finances we encourage you to register.
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