RAA Farm Innovation Fund
The Farm Innovation Fund (FIF) is provided by the NSW Government and managed by the Rural Assistance Authority (RAA). The FIF is designed to allow eligible farming businesses to improve productivity, profitability and environmental sustainability through investing in permanent capital works. The key details of the fund are as follows:
20 year loan term, with principal and interest payments for the life of the loan
Interest rate is currently at 2.5% pa
Repayments can be paid monthly, quarterly, half yearly or annually
Applicants can borrow a maximum of $1 million for a project and can have only $1 million outstanding at any one time
Security is provided by caveat over the property
More information regarding the eligibility requirements and application process for the FIF can be found at the link below: