RIC surpasses $3.15bn in farm loans as Orange team expands

The Orange-based Regional Investment Corporation has delivered over $3.15 billion in concessional loans to Australia's agriculture sector, hitting the milestone as it moves to nearly double its staffing in a significant expansion that reflects surging demand from drought and flood-affected farmers.

Since its inception, the government-backed lender has approved more than 2,910 loans, providing lifelines to farmers recovering from flooding, drought, biosecurity risks and other severe business disruptions. As demand continues to mount, the RIC is recruiting 27 new specialists across customer service, agri-lending, IT, finance and systems management roles—an expansion of almost one-third from its current workforce of 70.

The hiring spree reflects the RIC's confidence in its model and growing need. "One of the things we've found really important is actually having a workforce that's got a great affinity with the farmers and the farming community that we're dealing with," CEO John Howard said of the recruitment strategy.

The expansion also marks a structural evolution. Rather than outsourcing components of the lending process to third parties, the RIC will now manage the entire loan cycle internally—from initial assessment and documentation through disbursement and the full 10-year loan management term. This consolidation aims to eliminate handoffs that slow approvals and create customer frustration at vulnerable moments.

"We've done significant parts of it before but we are increasing our base of how we do that, we are bringing in a contact centre, we're having our own loan management system," Mr Howard explained. "We will be managing the lot ourselves and they will be dealing with the RIC for every stage. It will mean a significantly improved experience."

Program delivery executive director Alli Gregory described the streamlined process: "From a customer perspective when an application comes in we do an assessment, we do all the loan documentation, we disperse and settle the loan and then we manage the loan for the rest of the 10-year loan term."

The RIC's commitment to keeping operations rural-focused is embedded in its expansion plans. Nine in ten current staff members are based outside metropolitan areas, with two-thirds of the workforce concentrated in Orange and the Central West. The new recruitment campaign will preserve this regional character, offering head office positions in Orange alongside remote and hybrid roles available across Australia.

"The expansion will enable the RIC to be more responsive, and more timely, with faster communication with customers and the products are available right across Australia," Ms Gregory said.

The timing of the expansion underscores the pressures facing Australian agriculture. As the RIC enters its fifth year of operation, climate volatility and persistent farm economics continue to strain rural finances. The organisation's low-cost concessional loans—with fees substantially below commercial banks—are underpinned by government backing designed to help farmers stabilise operations after disaster or prepare for growth.