Farmers respond quickly to NSW farm finance dealLucy Barbour, Wednesday August 7, 2013 - 09:39 EST
The New South Wales Rural Assistance Authority has fielded almost 50 inquiries from farmers since details of the farm finance package in that state were announced yesterday.
The scheme, made available by State and Federal Governments, makes loans of $650,000 available to struggling farmers, at 4.5 per cent interest.
General manager of the Rural Assistance Authority, Steve Griffith, doesn't think there'll be enough money to meet the demand from farmers wanting financial assistance.
"There's $30 million available between this financial year and next financial year in total," he said.
"So we would be expecting somewhere between 100 and 200 producers to receive loans, given that that's the magnitude of the assistance that the Commonwealth has provided."
© ABC 2013
More breaking news
For the last four years Central Australia's Elkedra cattle station has received around half its average annual rainfall or only 150 millimetres each year.
Central Victorian regions battle hot, dry spring with Bendigo, Castlemaine setting record temperatures
Figures from the weather bureau show parts of central Victoria endured one of the driest springs on record.
It may officially be summer, but it felt a lot like winter across Victoria as temperatures dropped and light snow settling in the Alps.