Disaster recovery assistance for small business.

The Queensland Rural and Industry Development Authority has released valuable information about disaster recovery assistance for small business. If your business has been adversely affected by the North Queensland Monsoon Trough in January and February 2019, you may be eligible to apply for assistance.

Disaster Assistance Loans are available through the Queensland Rural and Industry Development Authority. There are two main categories:

• Disaster Assistance Loans - Small Business
• Disaster Assistance (Essential Working Capital) Loans - Small Business

The Disaster Assistance Loans - Small Business are designed for small businesses whose assets have been significantly damaged as a direct result of an eligible disaster may be able to access low interest loans of up to $250,000. Concessional loans are provided to assist you to re-establish the normal operations of your primary production enterprise by covering costs such as: 

• repairing or replacing damaged plant and equipment
• repairing or replacing buildings
• supplying stock for up to one month to replace lost stock and maintain liquidity of the business
• meeting carry-on requirements including sustenance, paying rent and rates

To learn more, click here.

The Disaster Assistance (Essential Working Capital) Loans - Small Business is designed for small businesses which have suffered a significant loss of income as a result of an eligible disaster (such as through loss of electricity, water or road access for extended periods) may be able to access low interest loans of up to $100,000. Concessional loans are provided to assist you with essential working capital for expenses such as: 

• paying salaries or wages
• paying creditors
• paying rent or rates
• buying goods, including for example, fuel essential to carry-on the small business

To learn more, click here.
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Click here to learn more about eligibility criteria and the fine print from the Queensland Rural and Industry Development Authority website.