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Farm Innovation Fund
Program ID: 11039
Overview
This program is an incentive-based initiative to assist farmers within New South Wales to identify and address risks to their farming enterprises, improve permanent farm infrastructure, ensure long term productivity and sustainable land use plus aiding in meeting changes to seasonal conditions.

Loans available are up to 100% of the net cost of the works (GST exclusive) to a maximum of $250,000, with a total of $500,000 outstanding at any one time. The applied interest rate will depend on the interest rate on the date on which the loan is approved and is fixed for the term of the loan. The term of the loan may be up to 20 years dependent upon the amount borrowed and applicant''s ability to repay.

Applicants can only apply once in any 12-month period. A second application can only be approved on condition that the previous application has been fully drawn.

Applicants are advised to contact the program administrator prior to lodging an application.

A total funding pool of $250 million is available.
Who Can Apply
Eligible applicants must:
- Be the owner or operator of the property where the work is to be carried out.
- Show the farm enterprise under normal seasonal conditions provides at least 50% of the total gross income.
- Not have gross-off farm assets exceeding $5 million.
- Demonstrate that the works have a significant beneficial impact on the land, the farming enterprise and aid in preparing for adverse seasonal conditions.
- Demonstrate that the farm enterprise has long-term viability and has the capacity to repay the loan sought.
- Provide satisfactory security to support the loan sought.
- Lodge an application before commencing the project. An interim application is to be lodged with the authority if the project is to commence prior to lodging the full application.
- Demonstrate the proposed works are part of the Farm Business and Risk Assessment Plan.
Eligible Activities
Eligible activities for the four main categories include but are not limited to:
1. Drought preparedness
- Stock and domestic water supply
- Cap and piping of bores in the artesian basin
- Refurbishing/desilting ground tanks
- Planting perennial species

2. Environment
- Soil conservation
- Erosion control
- Woody/noxious weed/serrated tussock control
- Solar power conversions

3. Farm infrastructure
- Fodder storage facilities (Silo-Hay Shed)
- Farm/shearing sheds
- Fencing/road works
- Storm/exclusion netting
- New/upgrading of irrigation systems

4. Natural resources
- Planting trees for shade/wild life corridors
- Livestock effluent control
- Fencing off of river banks
- Disaster mitigation works (flood pads, etc)

Please review the Information Brochure for the list of ineligible activities.
Main Assessment Criteria
The main assessment criteria include:
- Background information of the farm
- Farm assessment
- Current seasonal outlook and prospects
- Financial performance
- Risk analysis
- Future strategy

Please review the Business Plan Checklist for complete information on these criteria.
Applies to
DocumentationUploaded
Information BrochureApril 2016
FAQsApril 2016
Application FormApril 2016
Authority to PayApril 2016
Existing Mortgagee''''s Consent FormApril 2016
Business Plan ChecklistApril 2016
Use these documents as a guide only - always get the latest direct from the Administrator
Status Open
Closing Information
This program is open on an ongoing basis, subject to funds availability.
Funding Type Loan
Maximum Funding $250,000
Total Funding Pool $250.0M
Requires Co-contribution? No
Competitive Yes
Location New South Wales
Industry
Agriculture
Activities
Environment and Sustainability
Infrastructure / Equipment
Difficulty Rating
Department
Department of Primary Industries (DPI)
Program Administrator
NSW Rural Assistance Authority
Telephone 02 6391 3000
General Website Visit website
Program Website Visit website
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