Learn how we determine eligible industries and how to tell if your business is eligible to apply for a RIC loan.
What you’ll learn:
Industries eligible to apply for RIC loans
RIC loans are for farm business and farm-related small businesses in Australia.
Eligible industries for RIC loans are defined with the help of ANZSIC Codes (Australia and New Zealand Standard Industrial Classification 2006).
RIC farm business loans: RIC Drought Loan, Farm Investment Loan, and AgriStarter Loans are for Australian farm businesses involved in the agricultural, horticultural, pastoral, apicultural (beekeeping) or aquacultural industries and derive their income directly from production. They are involved in activities that fall under ANZSIC Codes for ‘Agriculture’ and ‘Aquaculture’, with some exceptions. (Activity categories with exceptions 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 Floriculture Production*
- Mushroom and Vegetable Growing
‘Aquaculture’ includes:
- Offshore Longline and Rack Aquaculture*
- Offshore Caged Aquaculture*
- Onshore Aquaculture
For RIC AgBiz Drought Loans: These loans are for drought-affected farmer-dependent small businesses that provide primary production related goods and services to drought-affected farm businesses.
Eligible activities for RIC AgBiz Drought Loans come under ‘Agriculture, Forestry and Fishing Support Services’ and ‘Landscape Construction Services for fencing or clearing land’ in the ANZSIC Codes.
Exceptions to the ANZSIC codes: In terms of eligibility for RIC loans, some ANZSIC Codes for ‘Agriculture’ and ‘Aquaculture’ have exemptions and some require more information.
These categories are:
- grape growing
- horse industry
- nursery and floriculture
- other crop growing
- other livestock farming
- aquaculture and commercial fisheries
For example: In the ‘Aquaculture and commercial fisheries’ category, offshore farming of mussel, oyster, abalone and seaweed would be considered eligible, whereas ‘Wild catch’ (harvest) activities such as prawn fishing or line fishing would not be considered eligible.
In the ‘Other livestock farming’ category, farming of alpacas or emus, for example, would be considered eligible, however, cat or dog breeding would not.
How to check if you are involved in an eligible industry
If you are unsure if you are involved in an eligible industry, visit our eligible industries webpage to view detailed information, including a full list of eligible and ineligible activities. Here you will find all exceptions and clarifying information. Also, the direct link to the full list of relevant ANZSIC codes for your reference.
If you consider that you are in primary production but cannot see your activities listed, or are unsure if you are involved in an eligible industry for RIC loans, it’s best to contact us to have a conversation with our friendly and knowledgeable experts.
If you have questions about eligible industries, contact us.