Industries eligible for a RIC loan

The RIC Drought Loan, Farm Investment Loan and AgriStarter Loan are available for Australian farm businesses involved in the agricultural, horticultural, pastoral, apicultural (beekeeping) or aquacultural industries.

RIC AgBiz Drought Loans are available for drought-affected small businesses with a direct dependency on farmers and providing primary production-related goods and services to farm businesses affected by drought.

Eligible activities for all RIC loans are based on Australia and New Zealand Standard Industrial Classification (ANZSIC), 2006 (Revision 2.0) codes, with some exceptions (see below).

ANZSIC classifications

Activities eligible for RIC farm business loans are listed under the Agriculture and Aquaculture subdivisions of the ANZSIC codes, with some exceptions. Categories with exemptions (where not every activity listed in the ANSZIC codes is eligible) or that require more information are marked with (*) below.

Agriculture includes:

  • sheep, beef cattle and grain farming 
  • other livestock farming (horse, pig, beekeeping, other livestock farming – not elsewhere classified)* 
  • other crop growing (Sugar cane, cotton, other – not elsewhere classified)* 
  • dairy cattle farming 
  • poultry farming 
  • deer farming 
  • fruit and tree nut growing* nursery and horticulture production* 
  • mushroom and vegetable growing

Aquaculture includes:

  • sheep, beef cattle and grain farming
  • other livestock farming (horse, pig, beekeeping, other livestock farming – not elsewhere classified)*
  • other crop growing (Sugar cane, cotton, other – not elsewhere classified)*
  • dairy cattle farming
  • poultry farming
  • deer farming
  • fruit and tree nut growing*
  • nursery and horticulture production*
  • mushroom and vegetable growing 

Activities eligible for AgBiz Drought Loans are listed under: 

 

Exceptions and more information

Read more below about exceptions and additional information in the categories of:

Other livestock farming

not elsewhere classified (part of ‘Other Livestock Farming’) 

This classification consists of entities mainly engaged in the breeding or raising of farm or domestic animals not elsewhere categorised.

Eligible
  • alpaca farming  
  • crocodile farming  
  • dairy goat farming  
  • emu farming
  • goat farming  
  • ostrich farming  
  • pig farming  
  • rabbit farming 
Not eligible
  • bird breeding (except poultry and game birds for either meat or eggs for human consumption)
  • cat breeding
  • dog breeding 
  • pet breeding
  • snake farming 
  • worm farming

 Livestock raising not elsewhere classified will be considered on a case-by-case basis.

Horse industry

in ‘Other livestock farming’

Horse farming is eligible for a RIC loan.

Horse farming can be categorised as livestock production that is, the controlled breeding and maintaining of animals for the purpose of selling them or their bodily produce. Relevant horse-related activities primarily consist of horse breeding, agistment services and stud farm operations for the horse racing sector, competition and sporting associations, pony clubs and working horses.

Other crop growing

not elsewhere classified (in ‘other crop growing’)

This classification consists of sugar cane, cotton and horticultural crops and plants not elsewhere classified. 

Eligible
  • sugar cane
  • cotton
  • arrowroot
  • bamboo (production of edible shoots)
  • flax seed
  • pasture or crops for hay, silage and other fodder  
  • ginger
  • hemp (grown for either fibre or for seed)
  • hop
  • jute
  • lavender
  • lucerne
  • mustard
  • pharmaceutical/cosmetic plant growing – including medicinal cannabis, tea tree
  • peanut
  • Seed crops – including rapeseed, safflower, sunflower
  • spice crops
  • tobacco 

Grape growing

in ‘fruit and tree nut growing’

Grape growing is an eligible horticultural industry. Applicants must have the farm business as their principal business pursuit and be mainly engaged in growing table or wine grapes, or sun-drying grapes.

Grape growing would not be eligible if the business is doing minimal primary production themselves or predominantly using grapes sourced from or grown by other farms and mainly operating as a winery/distillery in their own business or for other farms.

Eligible
  • grape growing  
  • grape sun-drying  
  • table grape growing  
  • wine grape growing  
  • vineyard operation – where at least 50% of the grapes used in winemaking are sourced from your own farm excluding grapes bought in to supplement production 
Not eligible

Activities such as**:

  • manufacturing or blending wine, fermented cider, wine vinegar or alcoholic beverages 
  • processing or crushing grapes in relation to preserving, bottling, canning etc. 

**N.B. These activities may be eligible in cases where at least 50% of the raw produce is sourced from your own farm.

Nursery and floriculture

Nursery and floriculture production can be categorised as horticulture, consisting of growing and/or producing cut flowers, foliage and flower seeds, bulbs, corms or tubers and plant nursery products (such as ornamental plants, fruit trees or seedlings and vine stock).

Eligible

The production of nursery products including:

  • trees, shrubs, plants, seeds, bulbs, corms and tubers (other than edible tubers)
  • cut flowers or foliage, and
  • propagating material and plant tissue cultures, grown for ornamental purposes or for producing cut flowers or foliage.

Wholesale / commercial nurseries dealing largely in plant propagation for use in, or sale to, industries that are generally considered eligible, may also be considered eligible. This includes selling young seedlings and rooted cuttings of fruit trees, vine stock or native plant species for shelterbelts.

Not eligible

A retail nursery at which the principal cultivation is the maintenance of plants pending their sale to the public would not be considered eligible. 

Aquaculture

Aquaculture is the farming of aquatic organisms, including fish, molluscs, crustaceans and aquatic plants. Farming also implies individual or corporate ownership of the stock being cultivated. Aquacultural activities include the controlled breeding, raising or farming of fish, molluscs, crustaceans and aquatic plants used for human consumption.

Eligible

Aquacultural activities such as: 

  • offshore farming of mussel, oyster, abalone and seaweed 
  • offshore farming using cages for finfish, salmon, trout and tuna 
  • onshore farming using ponds or tanks for crustacean, fish breeding, fish farming, paua, prawn, salmon, trout, tuna and yabby.
Not eligible

‘Wild catch’ (harvest) activities such as:  

  • rock lobster and crab potting 
  • prawn fishing  
  • line fishing  
  • fish trawling, seining and netting, and  other types of non-farmed marine life gathering or hunting 

In addition, pearl oyster and ornamental fish farming activities may be classed as aquaculture, however they do not contribute to the production of primary produce, either directly or indirectly.