SAGE Micro Loans

SAGE NSW Inc became a registered charity in 2024 and subsequently received a generous donation. Some of these funds, and funds from further donations, support a micro loan program managed by the SAGE Management Committee.  

Micro loans will support the strategic objectives of SAGE to increase the supply and demand of fresh local food, grow the local food economy through skills, jobs, and business opportunities, and provide fresh local food for people in need.

The project aims to address the difficulties some small food producers face trying to access finance for important infrastructure and inputs for their farming operations.

Eligibility

To be an eligible you must have;

• Have a current registered Australian Business Number (ABN)
• Be a current SAGE member 
• Operate within 200km radius of the SAGE market
• be able to prove your credit worthiness.

Eligible activities and/or items must show how they align or contribute to at least one or more of the following SAGE strategic objectives;

• Increase supply and demand of fresh local food
• Provide fresh local food for people in need
• Grow the local food economy through skills, jobs, and business opportunities.

Eligible activities and items include tangible assets such as;

• Infrastructure
• Tools
• Seeds and seedlings
• Soil amendments
• Equipment
• Machinery.

 Ineligible activities and/or items include intangible assets such as;

• General business activity including costs associated with administration, marketing and subscriptions
• Lease fees and rents
• Cash flow
• Wages
• Debts or taxes.

In extenuating circumstances, such as a natural disaster, the committee may consider loans for ineligible activities and items for long standing SAGE growers.

 Application and assessment process

Applications are assessed by the SAGE Committee.

 To apply, please email the following to secretary@sageproject.org.au 

1. a business case, including how the loan will address SAGE’s strategic objectives to increase supply and demand of fresh local food, and grow the local food economy through enhancing business and employment opportunities and skills.
2.            sufficient financial information to establish credit worthiness. 

Information will be considered by the Committee at its monthly meeting usually held on the second Monday of each month. The Committee may seek clarification or further information from the applicant before making its decision.  Applicants are welcome to present their business case to the committee, although this is not an essential criterion for applying. The offer of a loan, accompanied by a draft contract, will be provided to the applicant in writing.

Loan security, terms and conditions 

• Security is not required for SAGE micro loans. 
• Loans will be offered at the current RBA (Reserve Bank of Australia) cash rate plus 1% interest, calculated daily on the outstanding loan balance and fixed for the duration of the loan. 
• The term of a loan will vary depending on its size and purpose, but will normally be less than 2 years. 
• Loans of up to $10,000 will be considered. 
• Repayments are to be made monthly. 
• If a loan recipient faces genuine and unexpected financial hardship during the loan period, the Committee may consider varying the loan conditions to enable the recipient to meet their repayment obligations. 

Enquiries and applications should be directed to the SAGE Secretary via email to secretary@sageproject.org.au