Residential Care
Zero Real Interest Loans
This page contains information about the zero real interest loans measure; also see zero real interest loans media release and loan agreement.
Zero Real Interest Loans - Results Of Stage One
On 12 April 2008 the Invitation to Apply for $150 million in zero real interest loans and up to 1,250 residential aged care places was notified in major national and regional newspapers. Applications closed on 6 June 2008.Following a comprehensive assessment and negotiation process, thirty-six approved providers have been offered loans of $150 million and 1,348 new residential aged care places.
The average loan amount per residential aged care place is less than originally estimated and therefore it has been possible to offer more than 1,250 places, within the $150 million available.
The allocation of the loans and places is dependent upon the applicants complying with the terms and conditions of their individual Loan Agreements. Once the appropriate Loan Agreement has been executed, the zero real interest loan and places can be formally allocated.
A summary of the offers made to the recommended applicants is contained in Table 1.
Table 1: Summary of offers - 2008 Loans Round
State/territory | No of residential aged care places | No of community aged care places* | Loan amount recommended |
| New South Wales | 248 | 45 | $30,110,000 |
| Victoria | 246 | - | $19,690,000 |
| Queensland | 249 | 10 | $24,730,000 |
| Western Australia | 347 | 28 | $46,600,000 |
| South Australia | 128 | - | $12,800,000 |
| Tasmania | 130 | 24 | $16,070,000 |
Recommendations | 1,348 | 107 | $150,000,000 |
- * Includes Community Aged Care Packages, Extended Aged Care at Home and Extended Aged Care at Home Dementia packages
- Note: The information contained in this table reflects the expected results from the conduct of the 2008 Loans Round based on the offers made by the Department of Health and Ageing. The final allocations will be detailed on the Department of Health and Ageing website after the recommended applicants have complied with the terms and conditions of their individual Loan Agreement and the Department has had the opportunity to formally execute the Loan Agreements.
Details of the offers made to the recommended applicants are contained in the following spreadsheet.
Excel version of 2008 Zero Real Interest Loans and Associated Places Offers (Excel 296 KB)
PDF printable version of 2008 Zero Real Interest Loans and Associated Places Offers (PDF 31 KB)
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