Are you a farmer in a drought declared area?

Adrian Rasmussen • January 14, 2020

You may be eligible for an Australian Government Drought Loan of up to $2 million.

What are the loan details?
The term of the loan is 10 years. The first 2 years are Interest Free, the next 3 years can be Interest Only, and the last 5 years Principal and Interest is required. At the end of the 10 year term, any unpaid debt may be able to be refinanced with your bank.

What can you use the loan for?
Refinancing existing debt up to 50% or accessing new debt for operating expenses and capital expenditure.

What is the Interest Rate?
The current interest rate for this loan is 3.11%.

Here’s an example of how the loan could benefit you:
If you refinance a $500,000 bank debt with this new Regional Investment Corporation Drought Loan, and you are currently paying 5% interest, then this will save you $25,000 interest per year for the first 2 years that are Interest Free. In addition, it will continue to save you interest over the rest of the 10 year period, as the interest rate of 3.11% is lower than your bank interest rate.

BMO can help you
Don’t be overwhelmed by all the paperwork involved with these applications, let us help you complete the forms and required attachments ready for assessment. We have been successfully preparing similar applications for QRAA, QRIDA and now RIC over the past 30 years.

Register your interest by emailing us at team@bmo.com.au and we will contact you to arrange a meeting (at your place or ours) to discuss your application.

 

*UPDATE – LOANS NOW AVAILABLE FOR AGRIBUSINESSES*

RIC AgBiz drought loan applications are now open for small businesses that supply goods or services relating to primary production to farm businesses in affected areas.

The AgBiz Drought loan is designed to improve drought affected small businesses’ long-term strength, resilience and profitability through working capital and existing debt re-financing. The loan is valued at up to $500,000 over a 10-year period, with an interest free period of two years, followed by an interest-only period of three years, then five years principal and interest.

Full details here: https://www.ric.gov.au/agbiz-drought or give us a call and we can assist with your application.

Adrian Rasmussen retires after decades supporting Regional Queensland

By BMO • June 30, 2026
After an incredible career dedicated to supporting regional businesses, farming families and rural communities, BMO Business Centre Partner Adrian Rasmussen will officially retire from the partnership effective 30 June 2026. For many across the Western Downs and beyond, Adrian has been far more than an accountant or advisor. Over decades in business, he has built trusted relationships grounded in honesty, loyalty and a genuine understanding of regional life and the people who live it. Adrian’s connection to the country and agriculture has always been at the heart of who he is. He has worked alongside generations of farming families and business owners through seasons of growth, challenge and change, becoming a steady and respected presence for clients, colleagues and the wider community alike. Reflecting on his time at BMO, Adrian said the relationships formed throughout his career have been among the most rewarding parts of the journey. “It has been a privilege to work with so many wonderful people over the years; not only clients, but colleagues and communities who have become lifelong friends,” Adrian said. “Regional communities are built on relationships, trust and supporting one another, and I’m incredibly grateful to have been part of that throughout my career.” BMO Business Centre Managing Partners Kelvin Tyler and Michelle McVeigh said Adrian’s contribution to both the business and the region would leave a lasting legacy. “Adrian has played an incredibly important role in shaping BMO into the business it is today,” they said. “His care for clients, commitment to regional communities and calm, practical approach have earned enormous respect across our industry and the communities we serve. While we will certainly miss having him in the office, we are excited for Adrian and his family as they enter this next chapter.” While stepping away from the partnership, Adrian is looking forward to spending more time with family, on the farm and enjoying a well-earned change of pace after many years dedicated to supporting others. Everyone at BMO Business Centre extends their sincere thanks to Adrian for his years of service, friendship and leadership, and wishes Adrian and his family all the very best for the future.

Your 30 June superannuation checklist

By Nikki Ashurst • June 4, 2026
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