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

A fantastic finale to the Tasmanian snow season

15:14 EST

Tasmanian ski resorts at Ben Lomond and Mount Mawson are looking back at one of their best seasons in at least a decade.

Races, rain and punters lift spirits of channel country graziers in south-west Queensland

14:14 EST

Recent wet weather and an in influx of thousands of tourists for the iconic Birdsville Races have lifted the spirits of graziers in Queensland's far south-west.

Tasmania's Ben Lomond ski field ends season on a high

12:44 EST

One of the best ski seasons in decades at Tasmania's Ben Lomond ski village will finish this weekend.