As part of the NSW Government’s $1.8 billion Emergency Drought Relief Package, $1 billion has been allocated to the Farm Innovation Fund (FIF). The FIF loan helps primary producers to identify and address risks to their farming business, improve permanent farm infrastructure and ensure long-term productivity and sustainable land use, aiding in meeting changes to seasonal conditions.

Under this long-term, low interest rate loan scheme, NSW farmers can borrow up to $1 million per project to build permanent on-farm infrastructure, including rural sheds.

Here’s what you need to know. 

Important Information

We’ve summarised the key facts of the Farm Innovation Fund below.

  • Farmers can borrow up to $1,000,000 per project and up to $100% of the net, GST exclusive cost of the works can be borrowed.
  • The maximum loan term is 20 years.
  • Monthly, half-yearly, quarterly and annual repayments of principal and interest are available.
  • The current interest rate is 2.5%. This rate is fixed from the date of approval and will remain the same for the life of the loan.
  • You must lodge an application before starting your project.
  • There is no closing date, but once the allocated funding has been exhausted, no more loans will be offered. As of 25 October 2021, $751,954,957 worth of funds have been approved with $248,045,043 remaining.

Who is Eligible? 

The FIF is available to farmers in NSW who meet the eligibility criteria. Eligible works include:

  • Drought preparedness (stock and domestic water supply, planting perennial species) 
  • Environment (soil conversion, erosion control and sower power conversions)
  • Farm infrastructure (fodder storage facilities, farm sheds, shearing sheds, fencing, irrigation systems) 
  • Natural resources (planting trees, livestock effluent control, disaster mitigation works)

 Download the eligibility requirements for the FIF for full details.

How Do I Apply for the Farmers Innovation Fund?

The application process is relatively straightforward. Make sure you have all your paperwork to hand before you start. Documents you will need include:

  • Signed Mortgagees Consent Form from your existing mortgagee 
  • Last 3 years balance sheets and Financial Statements of your farm enterprise. (These include Profit and Loss Statements, Stock Trading account and Depreciation schedules)
  • Last 3 years individual Taxation Returns and a current listing of all Assets & Liabilities held by each: Individual members of a Partnership/ Family Trust and Individual Director(s)/Shareholder(s) of all Companies 
  • Copy of Farm Business and Risk Assessment Plan 
  • Trust Deed (if applicable) 
  • Monthly Cash Flow Budget for the next 12 months 
  • Copy of current LGA (council) rates and LLS rates notice(s) for property(s) where the work is to be completed.

Apply online now, or you can also download a paper copy of the application form

More Information about the Farm Innovation Fund

The Rural Assistance Authority (RAA) has put together a comprehensive list of frequently asked questions to help you understand the eligibility requirements and application process. 

If you still have a question or need further assistance, you can contact the RAA on 1800 678 593 or email

If you would like a quote on a rural shed, don’t hesitate to reach out to the team at Aussie Made Sheds. We are here to help!