AgriStarter Loan
RIC (Regional Investment Corporation) is offering AgriStarter Loans to encourage and support people in obtaining their first farming business, develop a share farming or farm leasing business, or to assist with farm business succession planning and giving effect to succession plans.
There are two kinds of AgriStarter Loans – succession loans and first farmer loans.
Succession
Succession loans are available if an eligible farm business is undertaking or has undertaken succession arrangements.
Succession planning involves the transfer of ownership and control of farming assets to the next generation or suitable responsible entity to continue business operations.
First Farmer
First farmer loans are available to eligible applicants who are seeking to purchase, establish or develop their first farm business in which they hold or will hold the sole interest or a controlling interest.
Applicants can also apply if they are a lease or share farmer and wish to purchase, establish or develop a farm business, even if this results in the business no longer involving share farming or leasing.
Funding
Up to $2 million
Key dates
Ongoing