Applications for the Woolworths Organic Growth Fund are now open

What is the Woolworths Organic Growth Fund?

Woolworths is partnering with conventional and organic fruit and vegetable growers to help start their journey into organic farming or assist in the growth of their existing organic production. The fund has seen five prior rounds of successful allocations, offering interest free loans, grants, and contracted purchase volumes.

Loan and grant characteristics

The WOGR program aims to support investment in organic farming projects, through the commitment of a $30 million funding pool. Grants or interest free loans of up to $500,000 are available for eligible applicants.

The funding will be distributed as follows:

• Interest-free loans: will be issued by the funds banking partner, Heritage Bank. Repayment terms will be assessed on case-by-case basis with a maximum principal repayment period of 5 years.
• Financial grants: will be issued directly by Woolworths (WOGF Grants). Grants will be considered for proposed projects with a higher risk profile or with a longer payback period. Example activities include research and development, or innovative organic fruit and vegetable production methods designed to boost supply in the medium to long term.

Eligible activities:

Grants and Loans can be used for the following purposes:

• Purchase of agricultural land.
• Purchase or development of agricultural equipment and agricultural infrastructure.
• Organic farming research and development activities.

Eligibility requirements:

Eligible applicants include Australian farmers that must:

• Have a registered Australian Business Number (ABN or ACN for companies).
• Have traded for a minimum of two years.
• Have provided Woolworths with financial statements for the two immediately preceding financial years.
• Have demonstrated to Woolworths that it has the commercial and technical expertise and the financial capacity to deliver the organic farming initiative or project for which funding is sought from the Fund.
• Operates a farm within in Australia.

Do you think your business may be eligible?

The Financial Advisory team at Mazars has extensive experience in government grants, debt advisory and project analysis for agribusinesses. Our banking and finance experts can assist you in understanding the financial requirements of your business and provide support in obtaining advantageous funding. Contact your usual Mazars advisor or alternatively, our financial advisory specialists via the form below or on:

Author: Alex Harris

Published: 27/01/2022

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