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POMS Recovery Concessional Loan Scheme
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.
The loan scheme will provide a loan pool of up to $5 million and provide loans ranging from $30,000 to $250 000.
Key features of the POMS Recovery Concessional Loan Scheme
- Loans are for eligible businesses for the purposes of stock recovery and clean-up of affected farms; operating costs necessary to restart, continue and redevelop operations while recovery occurs; modifications to infrastructure to mitigate against future POMS events; re-stock impacted oyster farms and restructuring existing eligible debt.
- A maximum loan term of five years.
- A concessional interest rate.
- Interest only payments available with principal loan repayment arrangements agreed on a case by case basis.
- At the end of the loan term, the farm business must repay or refinance any remaining loan balance.
- The availability of loans is subject to funds being available.
The POMS Recovery Concessional Loan Scheme is closed for applications.