PIRSA would like to remind you that Business support is available to eligible farm & small businesses located in declared EC areas through the Exceptional Circumstances Interest Rate Subsidy (ECIRS) program.

Interest Rate Subsidies can assist eligible farm businesses together with  agricultural dependant small businesses deriving at least 70% or more of their normal business turnover from supplying services to farm businesses located within EC declared areas eg contract harvesters, equipment suppliers, transport and consulting services.

PIRSA would also like to remind you that the limit for off-farm assets has been increased for applications made during the period 25 September 2007 to 30 September 2008 or the EC termination date for that area, whichever occurs first. For this period the net value of off farm assets is not to exceed $750,000.  This applies for up to one 12 month period of support.

Applicants need to demonstrate they are experiencing financial difficulties due to extended poor seasonal conditions but are considered to be viable in the long-term.

Interest rate subsidies are available on commercial borrowings taken out by the business. The interest rate subsidy in the first year of Exceptional Circumstances (EC) declaration is up to 50% of the interest payable and up to 80% in subsequent years of declaration. Applicants can apply for ECIRS during each declaration year (for a maximum period of 12 months in respect of each application or part thereof if the EC declaration is less than 12 months).

PIRSA Prudential and Rural Financial Services urges farmers and small business owners who have questions on their eligibility to call the toll free number 1800 182 235 to discuss their position. Alternatively, guidelines and application forms are available on the web at www.pir.sa.gov.au/grants . If businesses require further assistance in completing their application, support is available from the Rural Financial Counselling Service on toll free 1800 836 211.

AUTHOR: Ian Heinrich, PIRSA Rural & Prudential Financial Services, Adelaide

CONTACT: PIRSA Rural & Prudential Financial Services, Telephone 1800 182 235