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Financial assistance to build farm resilience
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By Murray Stewart, Chief Financial Officer, Brisbane Markets Limited
Horticultural growers can now access the new Farm Business Resilience Program (FBRP). The new assistance measures will help growers to review all aspects of their business, develop plans, and access grants and loans through Queensland Rural and Industry Development Authority (QRIDA) or private financier.
What is the Farm Business Resilience Program?
Jointly funded under the Australian Government’s Future Drought Fund and Queensland Government’s Drought and Climate Adaptation Program, the FBRP builds the strategic management capacity of Queensland horticultural growers to prepare for and manage business and climate risks.
Who is eligible to participate?
All Queensland horticulture growers and primary producers across all agriculture sectors. For more details on eligibility requirements, visit the QRIDA website: www.qrida.qld.gov.au.
What financial assistance is available?
The following financial assistance measures are now available through the QRIDA. Growers will need to have a completed FBRP when applying for assistance. For more information or to apply, visit: www.qrida.qld.gov.au/ drought-support.
Farm Management Grant Program
A rebate of 50% to a maximum of $2,500 for the professional cost of developing a FBRP.
Drought Preparedness Grants
A rebate of up to 25% to a maximum of $50,000 for on-farm capital improvements identified in your FBRP. For example, drilling of a bore.
Drought Ready and Recovery Loans
A concessional interest loan of up to $250,000 to undertake preparedness measures identified in your Farm Business Resilience Plan. For example, installing water infrastructure, expanding dams, improving irrigation. This is a complimentary measure to the Drought Preparedness Grants.
Emergency Drought Assistance Loans
An interest-free concessional loan of up to $50,000 for drought-declared primary producers to finance carry-on activities like paying wages or creditors during drought.
Drought Carry-On Finance Loan Scheme
A concessional interest loan of up to $250,000 for drought carry-on finance. These loans will be available where the $50,000 Emergency Drought Assistance Loans Scheme is insufficient. Applicant must be drought declared.
Getting started: Preparing your Farm Business Resilience Plan
To apply for the above loans or grants, you will need an FBRP or similar. This plan helps you identify, assess, and manage business risks such as drought, by developing strategies and actions to address these risks. You can complete your plan online, or with the assistance of one of Growcom’s Resilience Officers, who use their best management practice program for horticulture, Hort360, to develop business plans. To enrol in the program and use Hort360 to develop your plan visit https://bit.ly/3emz2m2. If not already, you will need to register with Hort360. Once you have completed your FBRP you can apply for financial support through the QRIDA website or speak with your local QRIDA Officer for further assistance.
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