The Australian Government is getting capital moving quickly into local businesses with $6.15 billion through the National Reconstruction Fund (NRF) now available.
The $1 billion Economic Resilience Program’s zero‑interest loans are available to businesses in critical supply chains, including those producing and transporting the fuels, plastics, fertilisers and agricultural protection chemicals that Australian farmers and manufacturers rely on every day.
Loans under the program will be administrated by participating banks or the NRF. The bank-administered part of the program will be open for applications for 6-months, with banks able to approve zero-interest loans of up to $5 million for businesses with an annual turnover of less than $100 million. Businesses seeking loans above $5 million or with an annual turnover of over $100 million should apply directly to through the NRF.
The $5 billion Net Zero Fund is open to back new manufacturing investment and energy‑efficiency upgrades in hard‑to‑abate sectors, building domestic clean‑energy supply chains and supporting the manufacture of low-emissions technologies such as wind, solar and energy storage solutions – and the production of low carbon liquid fuels.
The $150 million Forestry Growth Fund is open to support timber processing for housing construction and backing investment in mills and processing facilities to move up the value chain.
This investment sits alongside other support and actions the Government is taking to support Australia’s domestic industries. Together, these measures are about keeping Australian production moving, protecting local jobs and building a more resilient economy in a volatile world.
Applications are now open. For more information go to www.nrf.gov.au/erp
Quotes attributable to Fiona Phillips MP:
“As chair of the Standing Committee on Regional Development, Infrastructure and Transport, I know how important this opportunity is for truckies, business owners and producers within critical supply chains in our region.
“Fast-tracking these loans will help businesses like meat, poultry and smallgoods wholesalers, dairy, fish, seafood and fruit and veg wholesalers and freight transport operators that are facing rising costs.
“Loans will also be available for eligible mills and processing facilities in our region to ensure we have timber to keep building homes we need.”
Quotes attributable to Alison Byrnes MP:
“We know many local businesses are doing it tough, with ongoing uncertainty and high fuel prices driven by global events.
“The Albanese Labor Government is focused on ensuring essential goods continue to move reliably across the country and that businesses have the support they need to operate with confidence.
“From today, businesses across Cunningham can apply for zero-interest loans, and I encourage them to consider the options available to support their operations.”
Quotes attributable to Carol Berry MP:
"Businesses are currently navigating uncertainty, and this funding is designed to shore up confidence at a time when it's needed most.
“The Albanese Government has established the National Reconstruction Fund to ensure to back secure local jobs, strengthen our sovereign capability and diversify Australia’s economy at critically important time.
“The Albanese Government has fast-tracked the availability of $6.15 billion for Australian businesses to help to secure Australia’s supply chains. The availability of low-cost, long-term concessional finance is designed to support businesses to invest, grow and adapt at a time of uncertainty.”
