SMALL businesses looking to capitalise on the federal government's small business drought loans have yet to be given a time frame on when the loans will be available.
The Leader understands several small businesses owners are desperate for the loans to become available and have contacted their local MP to try and speed the process along.
Announced by the government in November, the loans for small businesses affected by the drought consist of $500,000, include two years interest free, interest only payment for years three to five, and interest and principal for years six to 10.
Parkes MP Mark Coulton said he was confident the loans would become available "in the very near future".
"In my view, it's essential we get these concessional loans out to farm-dependent small businesses in the Parkes electorate as soon as possible, to give those businesses assistance getting back on their feet and help them to look towards the future," Mr Coulton said.
"I have been in regular contact with Minister Littleproud's office in relation to the status of the small business drought loans announced in November last year.
"I am advised that these concessional loans will be operational in the very near future.
"This will be very welcome news for the many businesses in the region who are directly or indirectly affected by this terrible drought."
The loans will be delivered by the Regional Investment Corporation and are available to eligible small businesses dependent on agriculture.
The government's concessional drought loans for farmers, which were also announced in November, became available on November 21.
Eligiable farmers can apply for the loans through the Regional Invest Corporation via email at email@example.com or by phone on 1800 875 675.
For more information regarding the loans visit www.ric.gov.au