Researching low-interest loans for farm sheds in Queensland? What grants are available for farmers?
There are several incentives available in Queensland that could be used for a new farm shed project.
In this article, we discuss four loans and grants in this article that you may be able to take advantage of. These are:
- Disaster Assistance Loans
- Drought Preparedness Grant
- Sustainability Loan
- Drought Ready & Recovery Finance Loans
Please note, some of these relate to disaster recovery, so they may not be applicable to every farming operation.
Instead, you may like our article – Grants, Loans & Tax Write-Offs For Farm Sheds – This provides an overview of what is available for all Australian farmers, rather than state specific.
Alternatively, read on for an overview of grants and loans for farm sheds in Queensland.
First up is the Disaster Assistance Loans.
1. Disaster Assistance Loans
“Disaster Assistance Loans are available to assist primary producers, small businesses and non-profit organisations with re-establishing normal operations.”
Loan Features For Primary Producers
Loan details include a maximum loan amount of $250,000 and loan terms of up to 10 years.
What Areas Are Included?
View the full list of councils in the defined disaster areas, here.
Can This Loan Be Used For Farm Sheds?
According to the Queensland Rural and Industry Development Authority, Disaster Assistance Loans could be used to cover the costs of “repairing or replacing farm buildings.”
2. Drought Preparedness Grant
“Drought Preparedness Grants offer up to $50,000 as a co-contribution grant to assist primary producers undertake new permanent infrastructure activities that will improve the drought preparedness of their property.”
Elibility
Learn about eligibility requirements, here.
Can This Grant Be Used For Farm Sheds?
Examples of what this grant could be used for include:
- “Storage, mixing and feeding out equipment for grain, fodder, molasses and other supplements.
- Grain storage and equipment that improves the ability of the business to manage drought.”
The Queensland Rural and Industry Development Authority also provide this example:
“By completing their Farm Business Resilience Plan, Jamie knows that installing three large feed storage sheds will assist with protecting their farm from drought.
After seeking quotes for these sheds, they find it will cost $230,000 to build. Jamie decides to apply for a Drought Preparedness Grant to cover up to 25% of the cost to a maximum of $50,000.
Applying through QRIDA, they submit their quotes and Farm Business Resilience Plan for review. Meeting all the eligibility criteria, Jamie is approved for the Drought Preparedness Grant and receives $50,000 as it does not exceed 25% of the cost of the capital infrastructure they wish to build. This money will now go towards building the feed storage sheds.”
What Else Do You Need To Know?
A QRIDA Sustainability Loan can be used as the co-contribution to the Drought Preparedness Grant for implementation activities.
We discuss the Sustainability Loan next.
3. Sustainability Loan
“A Sustainability Loan can help you secure the future sustainability of your existing Queensland based primary production business.”
The next round of funding opens on the 1st of July 2024.
Loan Terms & Application
Learn about the loan terms and access application resources, here.
Can This Loan Be Used For A Farm Shed?
You can use a Sustainability Loan to:
- “Upgrade, expand or diversify your current operation to improve productivity and long-term profitability, create jobs and boost private sector investment.”
- “Undertake drought preparedness activities and invest in infrastructure that improves drought and disaster preparedness.”
- “Implement value adding or supply chain initiatives.”
4. Drought Ready & Recovery Finance Loans
“The Drought Ready and Recovery Finance Loan offers up to $250,000 to help primary production businesses undertake drought ready and recovery activities and improve drought resilience.”
Eligibility
Eligibility requirements include demonstrating at least one person in the primary production business is a primary producer and presenting a Farm Business Resilience Plan satisfactory to QRIDA.
What Can The Loan Be Used For?
The loan can be used for implementing grain storage and fodder storage. Download the guidelines, here, to view the complete list of eligible activities.
The QRIDA also provide this example:
“After receiving a Drought Preparedness Grant of $50,000, Jamie is excited to start building the feed storage sheds. However, they still need to fund the remaining $170,000.
Hearing about the Drought Ready and Recovery Finance Loans available of up to $250,000 through QRIDA, Jamie chats to their Regional Area Manager about whether the loan could fund the remainder of the shed.
After submitting all the required documentation and meeting eligibility criteria, Jamie is approved for a concessional loan of $170,000. They now have 10 years to pay this money back, with interest-only payments for the first two years.”
Further Resources & Articles
That’s a wrap on grants and low-interest loans for farm sheds in Queensland. We hope this has been a helpful overview.
Please note that this is not a complete list of all incentives and support available to farmers in Queensland. Contact QRIDA and they will be able to provide advice on the different options available to you.
For more articles like this, browse the Learning Hub – or check out the list below for some further reading.
- Farm Shed Pricing Guide Library
- Featured Project – Versatile Hay Shed With Concrete Walls
- 9 Best Hay Shed Kit Sizes & Prices
To discuss your farm shed project including pricing and invoicing requirements for your farm shed grant or loan application, call us on 1800 687 888 or submit a REQUEST A QUOTE for – we would love to hear from you!
Disclaimer: Information included in this article is general only and does not constitute professional financial advice. Speak with your accountant or financial advisor and the grant or loan provider for advice specific to your situation.
