The farm innovation fund provides a long term, low interest loan to NSW farmers for permanent on-farm infrastructure.
Farmers can borrow up to a maximum of $1 million per project, with a total of $1 million outstanding at any one time. The aim of the fund is to help farmers:
- improve farm productivity
- manage adverse seasonal conditions
- ensure long term sustainability.
Note: As part of the NSW government's drought relief package, applicants who submit an application on or before 30 June 2020 will have their interest charges for the 2019/2020 financial years waived.
- you must be the owner or operator of the farm business where the work will be carried out
- your gross off-farm assets must not exceed $5 million.
What you need
- signed mortgage lender's consent form from your existing mortgagee
- last 3 years' balance sheets and financial statements of your farm business, including:
- profit and loss statements
- stock trading account
- depreciation schedules.
- last 3 years' individual tax returns and a current listing of all assets and liabilities for each:
- individual director(s)/shareholder(s) of all companies
- individual members of a partnership/family trust.
- your farm business and risk assessment plan (Farm Business Plan Template – DOC)
- the monthly cash flow budget for the next 12 months
- a copy of your current LGA (council) rates and LLS rates notice(s) for the property(s) where the work is to be completed.
How to apply
- Select the 'Apply online' button.
- Complete the online form.
- Upload the required documentation.
If you're unable to apply online:
- Download and complete Farm innovation fund application form – DOC
- Gather all the required documentation.
- Lodge your application using the details on the form.