15Maximum amount of expanded drought loans

15 Maximum amount of expanded drought loans

(1) The Corporation must not grant a loan that exceeds the maximum loan amount. (2) The maximum loan amount, for an eligible farm business, is the lesser of the following: (a) an amount that would result in the business holding 50% of its total debt in Commonwealth‑funded concessional loans; (b) $2 million. (3) The total debt of an eligible farm business is the sum of: (a) the business’s commercial debt; and (b) the amount owing under each Commonwealth‑funded concessional loan provided to the business.

Note: The program guidelines published under section 26 must deal with the kind of loans that the Corporation considers to be Commonwealth‑funded concessional loans.