Interest Rate Subsidies
Exceptional Circumstance Interest Rate Subsidies (ECIRS) provides business support to farms that are viable in the long term, but are in financial difficulties due to an EC event.
Interest rate subsidies are also available to agriculture-dependent small businesses – see Small Businesses.
Interest rate subsidies are provided at 50 per cent of the interest payable on new and existing loans for the first year of an EC declaration and at 80 per cent in the second and subsequent years, up to a maximum of $100,000 in any 12-month period and $500,000 over five years.
Interest rate subsidies are also available to agriculture-dependent small businesses – see Small Businesses.
Interest rate subsidies are provided at 50 per cent of the interest payable on new and existing loans for the first year of an EC declaration and at 80 per cent in the second and subsequent years, up to a maximum of $100,000 in any 12-month period and $500,000 over five years.
ECIRS Policy Guidelines and eligibility requirements
Following an EC declaration the Australian Government issues guidelines to assist the relevant State and Territory rural assistance authority to administer the ECIRS assistance.
For more information and to apply
Contact the relevant State or Territory rural assistance authority as listed on the drought contacts webpage or on the telephone numbers below.- New South Wales and Australian Capital Territory: NSW Rural Assistance Authority 1800 678 593
- South Australia: Primary Industry and Resources South Australia 1800 182 235
- Queensland: QRAA 1800 623 946
- Victoria: Rural Finance Corporation of Victoria 03 5448 2600
- Western Australia: Rural Business Development Corporation 1800 198 231
- Tasmania: Department of Primary Industries and Water 1300 365 550
- Northern Territory: Department of Regional Development, Primary Industry, Fisheries and Resources 08 8999 2077
Last reviewed: 21 Dec 2009
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