Farmers will benefit from a loan rate cut offered by the government's rural loan body, the Regional Investment Corporation.
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RIC CEO Bruce King said the variable rate would drop 0.47 per cent to 3.11 per cent from August 1.
"On average our rate is 2 per cent lower than the commercial lenders," he said.
The RIC's water infrastructure loan rate will also drop from 3.12 per cent to 2.65 per cent from August 1.
"In the past financial year we've approved 172 loans to the value of close to $166 million. Smart farmers are finding it hard to turn away from the savings and opportunity our loans present," he said.
For more information on RIC visit its website or call 1800 875 675.
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David Fitzsimons
I am a senior journalist at the Central Western Daily concentrating on council, government and real estate issues. Before moving to Orange I filled senior roles at the Daily Telegraph, Daily Telegraph-Mirror and the Daily Mirror in Sydney. They included being an editor, news editor, chief of staff and reporter.
I am a senior journalist at the Central Western Daily concentrating on council, government and real estate issues. Before moving to Orange I filled senior roles at the Daily Telegraph, Daily Telegraph-Mirror and the Daily Mirror in Sydney. They included being an editor, news editor, chief of staff and reporter.
