Steelcorp is pleased to share the news that generous loans are now available to primary producers building sheds for fodder infrastructure, such as grain and hay sheds.
The Australian Government is offering low interest loans through the Regional Investment Corporation (RIC). These loans are to help farmers across the nation prepare for, manage through and recover from drought.
The New South Wales Government has lifted the cap for the Drought Assistance Fund to $100,000 for each primary producer. This is an interest-free loan to transport stock, fodder and water, genetic banking of breeding herds and installing on-farm fodder and water infrastructure. The loans term is seven years and there are no repayments required in the first two years.
The NSW Government’s Farm Innovation Fund is offering a loan scheme for capital works up to a value of $1 million per project for infrastructure works such as sheds to prepare for dry conditions, to build resilience and improve on-farm efficiency.
If you are a primary producer, you may also be entitled to claim an immediate deduction for capital expenses incurred on fodder storage assets.
Steelcorp recommends speaking to your financial adviser who can advise further on how government incentives can work for you.
For more information:
● Contact the RIC on 1800 875 675
● Contact the Rural Assistance Authority on 1800 678 593As always, the team at Steelcorp is ready to talk to you about your on-farm fodder storage needs.
Find out more about Steelcorp’s rural sheds or reach us on 1300 668 133.