First Start Loans QLD

At a glance

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Provides Queensland primary producers and commercial fishers with loans of up to $2 million to start or establish a viable commercial enterprise.

Who can apply:

At a minimum, you must:

  • have resided in Queensland for the last six months
  • be able to demonstrate a financial need and capacity to service the loan
  • have adequate experience or qualifications
  • have 50% equity in the purchase of the enterprise or set-up costs.

Other eligibility requirements may apply.

Deadline to apply:

Applications may be made at any time.

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Overview

First Start Loan - Primary producer

First Start Loans provide you with finance up to $2 million to assist you in the early years of establishing your primary production enterprise. Obtain the finance you need to enter into primary production or to become a full-time primary producer. Funding can cover:

  • buying your first farm
  • become a partner in the family farm
  • achieve enterprise viability
  • leasing or share farming
  • joint lending with your bank.

First Start Loan - Commercial fisher

First Start Loans provide you with finance up to $2 million to assist you in the early years of establishing your first commercial wild-catch fishing enterprise. Obtain the finance you need to enter into a wild-catch fishing enterprise or become a full-time commercial wild-catch fisher. Funding can cover:

  • buying your wild-catch fishing enterprise
  • become a partner in the family wild-catch fishing business
  • achieve enterprise viability
  • leasing or share-fishing
  • joint lending with your bank.

What support or funding is available?

Up to $2 million funding is available for both loans.

Who can apply?

The assistance offered is detailed and more information is available at the Queensland Government website.

What are the eligibility criteria?

If you meet the following requirements, you may be eligible for a First Start Loan:

  • resided in Queensland for six months
  • sound prospects for long-term commercial viability in the long-term development of the primary production enterprise
  • capacity to service the loan  (QRAA is required to determine that your enterprise and other forms of income are sufficient to service your debt; cover all  enterprise operating costs; and support family living expenses)
  • evidence of a financial need
  • demonstrate adequate experience or other qualifications to give a reasonable prospect of success
  • you should have equity of 50% in relation to the purchase, or 50% of set up costs  for leasing and share farming. The level of equity may be varied by QRAA in certain circumstances e.g. joint lending, stable off-farm income.

What are the merit criteria?

A mortgage over land and/or other assets, satisfactory to QRAA with a value commensurate with the loan amount; and any other security QRAA considers necessary.

How do I apply?

When applying for a First Start Loan, you will need to complete an application form and submit this form to QRAA along with the documents stated on the application form, including your management plan.

How will payments be made?

The payment process is detailed and more information is available at the Queensland Government website.

More information

For more information, and to apply:

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