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Tuesday, 28 October 2014
Page: 12361

Drought Concessional Loans Scheme

(Question No. 287)

Mr Fitzgibbon asked the Minister for Agriculture, in writing, on 27 august 2014:

In respect of the $280 million Drought Concessional Loans Scheme, (a) how many applications have been received, and of these, how many have been (i) successful, and (ii) unsuccessful, (b) what (i) total sum of payments have been made, and (ii) average amount has been paid, and (c) what has been the average processing time.

Mr Joyce: The Minister for Agriculture has provided the following answer to the honourable member's question:

For the Drought Concessional Loans Scheme, as at 30 September 2014:

(a) Nationally, 144 applications had been received.

(i) 66 applications were approved

(ii) 26 applications were declined.

(b) (i) $41.4 million has been approved.

(ii) Of the loans approved, average loan amount is approximately $624 000.

(c) Jurisdictions have a Key Performance Indicator (KPI) to assess and make a decision on 85 per cent of applications within 30 Business Days, provided they are in a complete state including all necessary information. The first of the six monthly reviews is due in December 2014, so no information is available for this KPI.