The Engine and Emerging Industries (EEI) Loan pilot program supports regionally based businesses in food and beverage manufacturing industries to adopt advanced manufacturing capabilities.
Key information
- Status: Closed
- Grant amount: Loans from $100,000 to $1,000,000
- Application opened: 17 May 2024
- Application closed: 17 June 2024, 12:20 pm
Program objective
The Engine and Emerging Industries Loan pilot program supports regionally based businesses in domestic food and beverage manufacturing industries to adopt advanced manufacturing capabilities. The fund offers eligible enterprises an opportunity to invest in capital that leverages growth opportunities aligned with NSW Government priorities.
Applications are now closed
In accordance with the program guidelines, the Engine and Emerging Industries Loan pilot program is now closed to applications, as all available funds have been allocated. Refer to the program guidelines (PDF 972.01KB) for further detail.
Register your interest
If you would like to be informed of any future programs based on the Engine and Emerging Industries Loan pilot program, please join our mailing list by completing the Registration of Interest form: Complete a Registration of Interest
This program is administered by Department of Regional NSW and Rural Assistance Authority.
This program is funded by Department of Regional NSW.
Eligibility
Who can apply
To be eligible for the Engine and Emerging Industries Loan, the enterprise must:
- Be a sole trader, partnership, trust or private company managed and operating in regional NSW.
- Have an active Australian Business Number (ABN) and is registered for GST.
- Not be a public company under the meaning of the Corporations Act 2011 (Cth).
- Have, in at least 2 of the last 3 financial years, fewer than 200 employees.
- Have, in at least 2 of the last 3 financial years, not had turnover greater than $250 million.
- Operate in 1 of the following food and beverage manufacturing industries:
- food product manufacturing (ANZSIC Groups 111-119)
- beverage manufacturing (ANZSIC Group 121).
- Have a Business and Project Delivery Plan for the project deemed suitable by the DRNSW and/or the Rural Assistance Authority.
- Be able to demonstrate that the business has long-term viability and has the capacity to repay the loan sought.
- Be able to provide the Authority with satisfactory personal property security in accordance with the security requirements in the program guidelines.
Eligible enterprises also include any Aboriginal and/or Torres Strait Islander Corporation registered for GST in regional NSW that have a Business and Project Delivery Plan, deemed suitable by the DRNSW and/or the Authority.
Types of projects funded under this grant
Loans can be used to fund activities that support the enterprise to implement its Business and Project Delivery Plan and invest in new technologies and equipment that will increase efficiency and productivity.
Applicants can apply for funding for activities that commenced on or after Monday 1 April 2024.
The loan can be used to fund investments that will result in:
- implementation of advanced manufacturing techniques and technology
- expansion of existing advanced manufacturing capabilities
- access to external expertise that is directly related to delivery of the project
- purchase and/or installation of specialist equipment and/or infrastructure necessary to progress the project including mobile equipment
- intellectual property protection or advice
- increased capabilities/efficiencies of pre or post-production phases, for example, implementation of pre-market and/or after-market service activities.
What can’t you apply for
Activities that cannot be supported by an EEI loan include:
- activities that commenced (ordered, purchased or installed) prior to Monday 1 April 2024
- activities that do not support the enterprise to implement its Business and Project Delivery Plan
- all residential premises/buildings and/or improvements to the residential premises/buildings
- own labour costs and employee wages
- passive investments such as commercial premises
- activities that are considered to be general operating costs of the eligible enterprise.
What your application needs to include
You can download the full guidelines:
When you lodge an application for a loan, you will need copies of the following documents:
- Last 3 years’ tax returns, balance sheets and financial statements of the enterprise (these include profit and loss statements, trading account and depreciation schedules).
- Local Government Area (LGA) rates notice or lease agreement where the business primarily operates.
- Business and Project Delivery Plan.
- Trust deed (if applicable).
- Monthly cash flow budget for the next 12 months.
Start the application
Applications are now closed
In accordance with the program guidelines, the Engine and Emerging Industries Loan pilot program is now closed to applications, as all available funds have been allocated. Refer to the program guidelines (PDF 972.01KB) for further detail.
Register your interest
If you would like to be informed of any future programs based on the Engine and Emerging Industries Loan pilot program, please join our mailing list by completing the Registration of Interest form: Complete a Registration of Interest
After the application is submitted
Successful applications will be decided by: NSW Rural Assistance Authority
The Rural Assistance Authority will assess applications received against the eligibility criteria listed in the program guidelines.
Applicants will be notified of the outcome within 30 business days after submitting a completed application.
Support and contact
NSW Rural Assistance Authority
Phone: 1800 678 593
Email: rural.assist@raa.nsw.gov.au