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Applications for drought loans

Farmers in the Tweed and Byron Shire Council areas can now apply for a Drought Concessional Loan for 2015-16.

The Nationals Duty Senator for Richmond John Williams said the Drought Concessional Loans are available for an interest-only term of five years and the concessional interest rate is currently 3.05%.

He said this represents the cheapest finance available to drought-affected farmers.

Senator Williams said the Tweed and Byron Shire areas are two of thirty-two local government areas in New South Wales that are experiencing a 1 in 10 or 1 in 20 year rainfall deficiency.

“Two hundred and twenty farm businesses in this State are already benefiting from the Federal government’s concessional loans scheme with $121 million worth of loans already approved up to the end of July this year.

Almost 2,000 families have been granted income support through the Farm Household Allowance since the programme started in July 2014.

To apply for a Drought Concessional Loan, farmers should visit www.raa.nsw.gov.au”, Senator Williams said.

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