Support has been announced for Queensland businesses impacted by SEQ storms on Christmas night 2023, in addition to the personal hardship grants for the most hard hit local government areas.

 

These include:

Disaster assistance Loans for those experiencing direct damage from the storms.

Essential Working Capital Loans for those indirectly impacted

Freight Subsidies for Primary producers.

 

Disaster Assistance Loans:

Up to $250,000 concessional loans to repair or replace damaged assets like plant and equipment, to repair premises, or to replace stock (up to one month) and maintain liquidity, cover rent and rates; for eligible producers and small businesses and $100,000 for not-for-profits.

With a loan term up to 10 years (with up to two years interest free), QRIDA is offering secured loans with no fees and concessional interest rates of 1.79%.

To be eligible:

1. Small business owner who has experienced direct damage as a result of the storm.
2. Continue to carry on business in the same location or LGA (Gold Coast, Logan City or Scenic Rim)
3. Have reasonable prospects of the business remaining viable with assistance.
4. Provide assets or property as security for loan.
5. Have taken reasonable precautions- such as holding adequate insurance.
6. Are unable to afford the repair or replace the assets with their own current resources.

Terms and Conditions:

• Application forms can be completed at www.qrida.qld.gov.au
• Loans will be assessed in order of receipt.
• Loans will be reviewed annually and financial information will be required to be provided. Interest rates can be increased to a commercial rate if QRIDA determines that the financial position has improved substantially.
• Loan recipients must show evidence of expenditure in relation to amounts drawn on the loan.
• Applications for this remain open until 31 December 2025.

For full details Guideline_Disaster_Assistance_Loan_SB_212KB.pdf (qrida.qld.gov.au)

 

Essential Working Capital Loans

Producers, small businesses and not-for-profits can access up to $100,000 concessional loans to allow for the continuation of operations, including payment of wages, rents or rates, purchasing items such as fuel, fodder and water, or for the transportation of livestock and produce.

With a loan term up to 10 years (with up to two years interest free), QRIDA is offering secured loans with no fees and concessional interest rates of 1.79%.

Note: Eligible businesses do not have to have experienced direct damages but will have seen a negative impact on normal business cashflow which has meant they are unable to meet normal operating expenses.

To be eligible:

1. Small business owner who has suffered significant loss as a result of the storms (this does not need to be direct damage).
2. Continue to carry on business in the same location or LGA (Gold Coast, Logan City or Scenic Rim)
3. Have reasonable prospects of the business remaining viable with assistance.
4. Provide assets or property as security for loan.
5. Have not taken excessive risks in carrying on the business.
6. Are unable to afford the repair or replace the assets with their own current resources.

Terms and Conditions:

• Application forms can be completed at www.qrida.qld.gov.au
• Loans will be assessed in order of receipt.
• Loans will be reviewed annually and financial information will be required to be provided. Interest rates can be increased to a commercial rate if QRIDA determines that the financial position has improved substantially.
• Loan recipients must show evidence of expenditure in relation to amounts drawn on the loan.
• Applications for this remain open until 31 December 2025.

For full details Guideline_DAL_EWC_SB_228KB.pdf (qrida.qld.gov.au)

 

Primary producers – Freight subsidies

Up to $5,000 for primary producers to assist with the movement of stock, feed, machinery, fuel, water, and building or fencing materials.

Freight subsidies for disaster-affected primary producers | Business Queensland

 

For those experiencing personal hardship – see details for Emergency Hardship assistance.

SEQ Severe Thunderstorms Christmas Day 2023 | Community support | Queensland Government (www.qld.gov.au)

 

How Can Alto Help?

Alto can help to understand your eligibility for the grants and prepare financial information required to apply including cashflow budgets.

Author: Donna Bruce