Fairfax Media Network

Weather News

Farmers respond quickly to NSW farm finance deal

Lucy Barbour, Wednesday August 7, 2013 - 09:39 EST
ABC image
The NSW Rural Assistance Authority has had a sharp increase in farmer inquiries immediately after the details of the farm finance package for that state were announced by the State and Federal Governments. - ABC

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

© ABC 2013

More breaking news

Sydney Morning Herald
ABC News
National Nine News
News Limited

Display Your Local Weather

Weather News

Trawler Dianne crew remembered by friends, family in Bundaberg ceremony

18:03 EDT

Family and friends of six men who died in a trawler accident off Queensland's coast have said a final goodbye at a memorial held at Bundaberg Marina in southern Queensland.

Thunderstorms light up the Kimberley sky

17:30 EDT

A low over northern areas of Western Australia's Kimberley region is generating plenty of thunderstorms and areas of heavy rain over an already saturated landscape.

Queensland weather: Heavy rain eases across south-east, disaster package announced

15:13 EDT

After more than 24 hours of heavy rain across south-east Queensland, the Bureau of Meteorology (BOM) has cancelled all severe weather warnings for the region, indicating the worst is over for the time being.