If you are a farmer in NSW and looking for ways to finance your new shed, the $1 billion Farm Innovation Fund (FIF) might be the answer. The FIF is a long-term, low-interest loan scheme for NSW farmers to help them improve farm productivity, manage adverse seasonal conditions and ensure long-term sustainability.
Farmers can borrow up to $1 million per project to build permanent on-farm infrastructure, including new sheds.
Read the NSW Government’s Farm Innovation Fund frequently asked questions for detailed information about the scheme, eligibility criteria and how to apply.
Below is a summary of the main eligibility criteria and details on how to apply.
Am I Eligible for a Loan?
Before you get started, it’s advisable to read the full list of eligibility requirements. We’ve summarised the key requirements below.
To be eligible you must:
- own or operate a farm in NSW
- not have more than $5 million in gross off-farm assets
- operate as a sole trader, partnership or private company that trades in agricultural products
- have an ABN and be registered with the ATO
- show that the farm enterprise under normal conditions provides at least 50% of your total gross income
- demonstrate that your farm is a sustainable enterprise in the long-term and will be able to pay back the loan.
Apply for the Farm Innovation Fund
Applying online is the quickest and easiest way to lodge your application. Make sure you have scanned copies of all the required documents before you get started. Paper applications are permitted, and you can download a copy on the Rural Assistance Authority website.
There is no cut-off date to submit your application; loans will be offered until the allocated funding is exhausted.
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