The Federal Agricultural Minister has signed off on a new emergency loans system for Queensland farmers, ending months of squabble and debate about funds for floods and fires.

Minister Joel Fitzgibbon has sealed the deal with his Queensland counterpart, Agriculture Minister John McVeigh. Access to new assistance schemes could not have come soon enough for many farmers, according to rural lobby group AgForce, 40 per cent of the state's farms are under drought conditions.

The Federal Minister will be hoping things go as smoothly when similar plans are rolled out in other states, the new Agriculture minister was able to close the deal just days after being sworn in.

Farm businesses will be able to access concessional loans of up to $650,000 in the Australian Government’s Farm Finance scheme, "under the program, farmers could save up to $81,000 in interest repayments over the five year concessional period," Mr Fitzgibbon said.

Mr Johnson says things are looking up with a little financial surety now available, “what I am hoping is that our cattlemen in this state, and any other producers who can take advantage of this financial deal, are going to be advantaged and not disadvantaged by it," he says, “I am quietly confident now, with the change of Minister in the south, with Joel Fitzgibbon, we will have an outcome, so we can get some sanity back into this equation."

More information on emergency Farm Finance loans is available online.