The acting Minister for Primary Industries, Fisheries and Rural and Regional Queensland, Robert Schwarten has today announced that the new fixed interest rates will be 4.23% for one year, 5.09% for three years, or 5.79% for five years.
(Media-Newswire.com) - Primary producers and commercial fishers in rural and regional Queensland will be given a further boost heading into 2010, after the announcement of QRAAs new fixed interest rates.
The acting Minister for Primary Industries, Fisheries and Rural and Regional Queensland, Robert Schwarten has today announced that the new fixed interest rates will be 4.23% for one year, 5.09% for three years, or 5.79% for five years.
Mr Schwarten said the new interest rates will apply to all new loan approvals for QRAAs Development, First Start, Resource Management and Drought Carry-On and Recovery Loans, from 1 July 2009 until 31 December 2009.
QRAAs new interest rates are welcomed news and highlight QRAAs ongoing commitment to its rural and regional customers, he said.
This will allow Queenslands primary producers and commercial fishers to continue implementing value-adding initiatives to improve and expand their existing operations or assist in recovering from the effects of drought.
QRAA Chief Executive Officer, Colin Holden said providing low interest rates to Queenslands primary producers and commercial fishers will ensure QRAAs customers continue to receive the financial support they need to boost productivity, profitability and sustainability.
Our primary producers and commercial fishers are facing unprecedented challenges from climate variability and industry changes, Mr Holden said.
The QRAA Board has looked beyond this to provide eligible businesses with the opportunity to financially overcome these challenges.
QRAAs Productivity Loans include Development, First Start and Resource Management.
They provide primary producers and commercial fishers with the opportunity to apply for low interest finance to own their first primary production enterprise or implement activities to achieve a more sustainable and viable enterprise in the future.
All of QRAAs loans have no fees and charges and offer flexible repayment terms, providing producers and commercial fishers with the capacity to match repayments to their cash flow.
For further information about QRAAs latest interest rates or details on any of QRAAs loans, please contact Freecall 1800 623 946 or visit www.qraa.qld.gov.au
QRAAs Client Liaison Officers can be contacted in the following regions:
Media Enquiries: Contact QRAA - CEO Colin Holden on ( 07 ) 3032 0123
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