QRAA sustains low interest rates on productivity loans

QRAA Media Release

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% for one year, 3.26% for three years and 3.47% 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 www.qraa.qld.gov.au or contact QRAA on Freecall 1800 623 946.