Up to $250,000 is available to farm businesses that have been affected by POMS.
Overview
The POMS Recovery Concessional Loan Scheme is an initiative of the Tasmanian Government providing low interest loans to oyster growers, nurseries and hatcheries that have been affected by Pacific Oyster Mortality Syndrome (POMS), as indicated by the Department of Primary Industries, Parks, Water and Environment.
Funding
Loans of $30,000 to $250,000 are available. The maximum loan term is five years, at a concessional interest rate. Loan amounts will generally be no less than $30 000.
Eligible Projects
Loans will be available to affected businesses for:
- Stock purchases and clean-up costs
- Operating costs necessary to restart, continue and redevelop operations whilst recovery occurs
- Modifications to infrastructure to mitigate against future POMS events
- Reconstruction of existing business term debt.
Eligible Applicants
To be eligible to apply applicants must:
Be a Tasmanian owned oyster farm, nursery or hatchery operating in a POMS declared area;
All applicants must:
- Complete the loan application form
- Operate as a sole trader, trust, partnership or private company
- Demonstrate a clear need for the loan, to the satisfaction of the Department of State Growth
- Include a brief synopsis, to the satisfaction of the department, of how your business will recover from POMS
- Demonstrate the financial viability of your business before POMS was declared in January 2016.
- Demonstrate that your business will be sustainable within the agreed loan period,
- Be registered for tax purposes in Australia with an Australian Business Number (ABN) and be registered for GST
Timing
Applications close 1 December 2016.
