The Regional Investment Corporation (RIC) administers concessional loans on behalf of the Australian Government for:
- farm businesses
- drought-affected small businesses
- other eligible businesses.
The purpose of the loans is to improve the long-term resilience and profitability of eligible businesses.
The RIC is a corporate Commonwealth entity. Its enabling legislation is available on the Federal Register of Legislation website. It has an independent Board whose role is to ensure the proper, efficient and effective performance of the RIC’s functions.
More information on the RIC and its loan products is available on the Regional Investment Corporation website.
Independent review of the RIC
The RIC commenced operation in July 2018. The government commissioned Mr David Tune AO PSM to do an independent review of the RIC to make sure the initial settings and governance were appropriate in light of its initial operating experience.
The review, completed in February 2021, considered the:
- suitability and effectiveness of its loan products
- suitability of the current funding model
- overall risk profile of the RIC, with a focus on financial risk.
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