$30 million in loans available for disaster-hit NSW farms

AN EXTRA $30 million in loans is now available for farmers in New South Wales suffering from natural disasters.

The latest tranche of federal funds was announced on Tuesday, after the $40 million first round expired in July.

It will mean NSW farmers suffering from droughts or other disasters can access loans up to $650,000 at a government-backed interest rate of 4.5%.

But the loans will still only be available to those classed as "financially viable", despite a push from the industry to expand the criteria for the loans.



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