The NSW Government has committed $250 million to establish the Drought Ready and Resilient Fund, an initiative designed to bolster the resilience of NSW farmers to future adverse weather events and climatic conditions, such as drought.

Through the Drought Ready and Resilient Fund, eligible primary producers can access a low interest loan up to $250,000 to help prepare for, manage and recover from drought.

The loan can be used for products, activities and services relating to animal welfare, farm preparedness, income diversification, environmental improvements as well as training and business development.

The Drought Ready and Resilient Fund loan facility has been designed to complement the existing Drought Infrastructure Fund loan product, formerly known as the Farm Innovation Fund.  (See Drought Infrastructure Fund here )

The current interest rate for Drought Ready and Resilient Fund loans is:

• 5.10% per annum for a 5-year loan
• 5.60% per annum for a 10-year loan

Customers will be provided with an indicative interest rate at the point of application, however the rate applied to the loan will not be determined until the date of first drawn down.  The interest rate applied to the loan is fixed for the term of the loan.

Applications are now open and will continue to be accepted until program funding is exhausted.

The Drought ready and Resilient Fund loan is available to eligible sole traders, partnerships, trusts or private companies who operate in the primary production sector in NSW.

To be eligible, applicants must earn at least 50% of gross income or at least $75,000 in one year from the primary production business, or be a bona fide primary production enterprise.

Please refer to the program guidelines for further information.

• Phone: 1800 678 593
• Email: rural.assist@raa.nsw.gov.au