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

ABC News
Sydney Morning Herald
National Nine News
News Limited

Display Your Local Weather

Weather News

Heavy hailstorms hit Queanbeyan and south Canberra

19:06 EDT

Backyards in Queanbeyan and parts of Canberra have been covered with "golf-ball sized" hailstones and the roof of a supermarket has partially collapsed after a storm hit the region.

Drought scheme helping western Qld contractors secure work raises $90,000

18:36 EDT

A western Queensland church has raised more than $90,000 for a scheme to keep rural contractors in work during the ongoing drought.

Clearest skies since spring fine-tune rare planet event

15:51 EDT

Much of southeastern Australia is experiencing its sunniest week since spring and skies have been staying clear at night, effectively giving planet gazers a fine-tuned view of a rare feature.