Farm finance will be cheaper and more readily available soon for troubled producers, with the Australian Government planning to widen the existing cheap farm loan scheme introduced by the former Labor government in June.
The Australian reported the Government will expand the existing pool of subsidised loans by A$280 million.
Larger loans will also be available, allowing farmers to refinance up to $2 million of debt p from the current cap of $650,000.
It will lower interest rates from five per cent to less than 4.5 per cent.
The maximum loan term will be extended to 10 years from five.