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Frequently asked questions

Producers are free to disagree and encouraged to discuss the findings of the analysis report with their independent consultant. The aim of the assistance is to provide independent and objective analysis at no cost to the producer. Concerns must be raised direct with the independent consultant. The Farm Debt Restructure Office will ensure they have been adequately addressed.

If mediation is unsuccessful after reasonable attempts to reach an agreement, the mortgagee may apply to QRIDA for an Exemption Certificate. If the application is approved, the farmer has the right to request a formal review of the decision.

The application form lists all required documentation needed to apply for this assistance, for example a statement of assets and liabilities, past years financial statements, taxation returns etc.

More details on where you can buy units can also be found online by searching for the Fisheries Queensland Vessel Tracking Installation and Maintenance Standard. 

It is a structured process that provides an efficient and equitable way for farmers and mortgagees, participating in good faith, to attempt to resolve matters relating to farm business debts.

A Disaster Assistance Loan of up to $250,000 is available to assist primary production businesses who have experienced direct damage as a result of the disaster event. This loan can be utilised to fund repair and reinstatement costs for your business, and to meet normal operating expenses that the business is unable to meet due to the impact of the disaster event (e.g. lease payments, property rates, creditors).

An Essential Working Capital (EWC) Loan of up to $100,000 is available to assist primary production businesses who have not experienced direct damage as a result of the disaster event but have experienced a negative impact on their normal business cashflow and are consequently unable to meet normal operating expenses (e.g. lease payments, property rates, wages, creditors). For example, a primary production businesses may be eligible for an EWC Loan if their farms were not physically impacted by the disaster event however the business suffered a significant loss of income throughout the disaster period. The business may not be able to meet normal operating expenses within its existing credit limits. These requirements over and above your existing credit limits can be met by the EWC loan.

An Exceptional Disaster Assistance Loan of up to $1 million is available to assist primary producers and business owners who have experienced direct damage as a result of the disaster event. This loan can be used to fund repair and reinstatement costs for your enterprise, and to meet normal operating expenses that the primary production enterprise or business is unable to meet due to the impact of the disaster event (e.g. lease payments, property rates, creditors). This loan term is over 10 years at 1.37% with no repayments of principal and interest in the first 2 years and with a discretionary option for a further 2 years interest only available.

A Disaster Assistance Loan of up to $250,000 is available to assist primary producers and small business owners who have experienced direct damage as a result of the disaster event. This loan term is over 10 years at 1.37% with up to 2 years interest only available.

An Essential Working Capital (EWC) Loan of up to $100,000 is available to assist primary producers and small business owners who have not experienced direct damage as a result of the disaster event but have experienced a negative impact on their normal business cashflow and are consequently unable to meet normal operating expenses (e.g. lease payments, property rates, wages, creditors). This loan term is over 10 years at 1.37% with up to 2 years interest only available.

QRIDA assesses applications based on the future viability of the business with the assistance provided. Security is the second consideration. Preferably security is available over landed assets, however, security over other business assets may be acceptable.

Loans eligible for refinancing are those obtained from a financial institution and held immediately before the disaster event, in relation to carrying on a primary production enterprise, small business or non-profit activities, other than any of the following types of loans:

1. off-balance sheet financing
2. a short-term credit facility
3. a loan established at a concessional rate under a Commonwealth or State government scheme or
4. an equipment finance loan.

You need to buy the units approved for your fishery. Please search online for the Fisheries Queensland Vessel Tracking Installation and Maintenance Standard to find which units are approved for which fishery. 

Loan account statements will be issued on a financial year basis in July. If a loan statement is required at any other time, please complete the loan account statement form. Otherwise, a statement will be issued in July.

The first interest charges will start to accrue on your COVID loan on the 1 year anniversary of the loan drawdown.

Your first interest payment will be due 13 months from the date at which you received your COVID loan, for example, interest will start to calculate 1 year after the funding date and the first payment will be due one month after that.

Payments will be charged monthly thereafter and debited to your nominated business transaction account.

Detailed information and documents are available through the following resources:

• Forms and templates: Visit the QRIDA forms and downloads portal.
• Program information: Review the Mediation Information Package (PDF, 227KB).
• Direct support: Email the Farm Business Debt Mediation team at contact_fbdm@qrida.qld.gov.au

Call QRIDA on 1800 623 946 for assistance with your loan application. Alternatively, your accountant, bank or financial or business advisor may also be able to assist with your application also.

Mediation meetings are to be conducted at a place and time that is reasonably convenient to the farmer.

Mediators are independent, third-party professionals accredited by QRIDA to assist the parties to mediation to negotiate their own solutions. You can view the full list of mediators on the Register of Mediators, located on the Farm Business Debt Mediation webpage.

Once a mediator has been agreed upon by both parties, it is the responsibility of the mortgagee to then ask the chosen mediator to arrange the mediation. The mediator will also arrange the time and location of the mediation and the coordination of mediation meetings.

Either the farmer or the mortgagee can initiate mediation by:

• the mortgagee serving a Notice S14 Inviting a Request for Mediation, along with a copy of the mediation information package to the farmer or
• the farmer giving a Notice S15 Request for Mediation Notice to the mortgagee whether or not they are in default. This request does not necessarily need to be in the approved form.
   

The parties to mediation are the mortgagee, the farmer and the mediator. Other participants are advisors, who may be your accountant, solicitor, Legal Aid Queensland, your local Rural Financial Counsellor or some other appropriately qualified person.

The farmer is responsible for nominating three (3) mediators in order of preference from the Register of Mediators.

The scheme guidelines require that all COVID loans with an approved value of more than $100,000 needed to be secured by a General Security Agreement on the PPSR.

In order to give you the best chance of success, QRIDA needs to understand the historical performance of your business, your current position and your plan moving forward. Without this information, QRIDA would be unable to determine the level of assistance you need and your prospects of returning to a viable business with the assistance provided. 

Yes. To be eligible for the rebate, all vessel tracking units must be registered on FishNet SECURE.

FishNet SECURE can be accessed via the following link: https://fishnet.fisheries.qld.gov.au/Content/Public/Secure.aspx 

Note: You are required to register your vessel tracking unit to the associated licence and boat mark (and if on a tender, the tender number) on FishNet SECURE. Registering your vessel tracking unit on FishNet SECURE will not activate the unit with your airtime provider (e.g. CLS Oceania, Pivotel or Pole Star).

Yes. The independent consultant may need to clarify information around the nature and terms of the businesses term debt to establish a more accurate picture of the enterprise for the report.