Assisting Primary Producers in times of drought
Hanrick Curran have a long history of advising primary producers, remaining current with government support they can access to assist business in tough times and generational farm transfers. A key government funded provider of services and support to primary producers is The Queensland Rural and Industry Development Authority (QRIDA).
QRIDA understands the needs of producers and through their Sustainability Loans work with them to improve profitability and create sound prospects for the future. The loans can assist producers with investing in on-farm developments including building exclusion fences, desilting dams, building storage facilities, improving irrigation or establishing additional water points.
With 57.4% of land area in Queensland currently drought-declared, many graziers are taking stock of their current situation in preparation. QRIDA can assist producers suffering the effects of drought through Sustainability Loans.
The loans are attractive with low interest rates, no fees or charges and providing up to $1.3 million for eligible primary producers to achieve a more sustainable farming enterprise.
QRIDA client Peter Magoffin received support through a Sustainability Loan and found his business position improved as did his prospects of a profitable future in the beef industry.
Peter was able to improve water infrastructure to give his livestock a reliable water supply and the ability to graze more widely, making the best use of pasture and maintaining condition on his cattle for longer. “We’ve seen the full effect of the drought in the past and the improvements we’ve made to water infrastructure means we can safely and reliably carry bigger numbers," Peter said.
Producers across the state have seen mixed seasons over the past twelve months and concessional loans are available for a range of purposes. It is important to not self-assess your eligibility for any loan product, but rather have a chat with your local QRIDA Regional Area Manager or Hanrick Curran Advisor to discuss your individual situation and how a Sustainability Loans could assist you.
Timely access to services provided by QRIDA is important and can be supported by your Hanrick Curran adviser. For further information about how QRIDA programs can be of benefit to you, speak with your usual Hanrick Curran adviser or call one of our Agribusiness specialists John Kotzur, Matthew Beasley, Kim Hanrick, Scott Hutton or Owen Dingle on 07 3218 3900.
Thank you to QRIDA for content contribution.
Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.