The New South Wales government says its new loan program will help regionally based food and beverage manufacturers adopt advanced manufacturing capabilities. Applications for the Engine and Emerging Industries (EEI) Loan pilot are now open.
There’s $5 million in the pilot, with low interest loans of $100,000-$1 million available to support investment in new technologies and equipment that will increase efficiency and productivity.
It’s designed to reduce existing barriers such as approval times, underwriting security requirements and competitive interest rates.
The loan must be drawn down within 18 months, interest will be 2.5 per cent, and the maximum term is seven years.
The program is jointly administered by the Department of Regional NSW and the NSW Rural Assistance Authority (Authority).
Program guidelines and eligibility criteria PDF.
Program funding is limited, and therefore early applications are strongly encouraged.
