Below is a reminder from Rob Sands, Chairman of the Rural Business Development Corporation about the Drought Concessional Loans Scheme for Western Australia.
“Obtaining a valid ‘BoM Rainfall Deficiency Report’ is the first step before completing an Application form. Data on the Bureau of Meteorology weblink is updated each 22nd or 23rd of each month. This means that the area that is defined as having been impacted by a 1 in 20 or a 1 in 10 rainfall deficiency event may change each 22nd or 23rd of each month.
I would like to remind you that if a farmer’s property appears to be in an eligible area, and they are looking to put in an application for a drought loan, they should download a ‘BoM Rainfall Deficiency Report’ by the 21st of each month. From the date the BoM report is download, they have 60 calendar days to submit their drought loan application.
Even with a valid ‘BoM Rainfall Deficiency Report’, for a farm business to be considered eligible for a Drought Concessional Loan, it must clearly demonstrate that the drought has resulted in well below average production over a two year period, and that this loss of production has resulted in a financial loss for the same period.
The weblink is accessible through the Department of Agriculture and Food website www.agric.wa.gov.au/rbdc, then follow the Drought Concessional Loans Scheme link. The link to the BoM webpage is on the bottom right hand side under Australian Rainfall Deficiency Analyser, or you can contact the RBDC on (Freecall) 1800 198 231.”