Australian Government farm business lender, RIC (Regional Investment Corporation) will host a free online ‘RIC Ready’ webinar on Wednesday 12 March 2025 at 12 noon AEDT, to help farm businesses learn more about applying for RIC’s concessional loans.
Presenters include a RIC Agri Lending Manager and Rural Financial Counsellors from South Australia and Western Victoria who will cover frequently asked questions about loan eligibility and applying for a RIC loan.
RIC Chief Executive Officer, John Howard, said this RIC webinar provides an opportunity for farmers, financial advisers, and business planners to get more information about RIC loans eligibility criteria, loan process, and various other application requirements.
“As a national, consistent low-cost loan program for Australian farm business facing challenging financial times, RIC loans can be used to refinance, restructure and manage agribusiness debt to improve cash flow,” Mr Howard said.
“Financial relief through low interest payments over the 10 year-term of a RIC loan enables farmers to pay operating expenses, manage through, and recover. The financial ‘breathing space’ gained over time provides greater confidence to rebuild, accelerate business plans, and invest in capital infrastructure, to be better prepared for future unforeseen disruptions.”
“As RIC loans are not for every farm business, it is important to understand our eligibility and assessment criteria. This ‘RIC Ready’ webinar allows participants to hear directly from our Agri Lending specialists, who know farming, finance and regional communities, and who can help make it easier to understand the key features and benefits of RIC loans, who is eligible, and how to apply.”
CEO of Rural Financial Counselling Service Victoria West, David Stafford said his team supports farmers and regional small businesses navigating their way through challenges and difficult times and they are pleased to be a part of the RIC Ready webinar to engage with farmers.
“RIC loans can be a good option for eligible farmers in financial need to refinance debt, invest in new infrastructure and machinery, and recover from and prepare for natural disasters or other disruptions,” Mr Stafford said.
Farm businesses with a concessional RIC loan also benefit from no application fees, no ongoing management fees, and no penalty fees for extra or early repayment.
RIC loans provide up to $2 million over a 10-year term with the first five years interest only payments followed by principal and interest repayments for the remaining five years. The current variable interest rate is 5.18 per cent and there are no fees to apply, make extra repayments, or for early loan repayments.
To register for the free online webinar to find out more about RIC’s eligibility criteria, visit www.ric.gov.au/events. The webinar will be held on Wednesday 12 March 2025 at 12 noon AEDT and a recording will be emailed to registered participants after the event.
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Media Contact: E media@ric.gov.au | M 0435 168 885
About RIC
RIC (Regional Investment Corporation) is an Australian Government farm business lender providing low-interest loans for farmers and farm-related small businesses in financial need to strengthen Australian agriculture. RIC loans can be used for management, recovery and future proofing following severe business disruption due to drought, natural disasters, biosecurity issues or other significant market events. RIC loans can help establish farm businesses for first generation farmers or succession planning for next generation farmers. RIC’s vision is to build thriving regional communities. Since 1 July 2018, RIC has settled 3258 loans valued at more than $3.5 billion as at 31 January 2025.