Interest Rate Subsidies

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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.

Eligibility Requirements

The ECIRS is only available to farm businesses where the owner is also the farmer. This means, under normal circumstances, that the person applying contributes at least 75 per cent of his or her labour to the farm enterprise and derives at least 50 per cent of his or her income from farming.

The person applying also must have been a farmer for at least two years and will be subject to an off-farm assets test.

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 180 20 20
  • Queensland: QRAA 1800 623 946
  • Victoria: Rural Finance Corporation of Victoria 03 5448 2600
  • Western Australia: Rural Business Development Corporation 1800 198 231
For information relating to recent changes to the interest rate subsidy, read the following fact sheets and media releases:
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Last Updated: 04 Dec 2007
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