Disaster Assistance Loans Available | Regional Queensland impacted by ex-Tropical Cyclone 'Seth'

We would like to extend our thoughts to those facing hardship or who may have been impacted by ex-Tropical Cyclone 'Seth' throughout areas of Regional Queensland.

Our firm has a long-standing history of working with clients throughout the area, assisting SME & agribusinesses across a number of key industries to the region and were saddened to hear the recent news of its impact.

As such, we wanted to note the release of the QRIDA's 'Disaster Assistance Loans' scheme available to assist primary producers, small businesses, and non-profit organisations in their recovery and support re-establishing normal operations.

Under the assistance program businesses and primary producers will have access to concessional loans designed to support the return of normal operation. These loans are to cover such costs, including:

Businesses Primary Producers
  • repairing or replacing damaged plan & 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 and paying rent/rates
  • repairing or replacing damaged plant & equipment
  • repairing or replacing farm buildings
  • purchasing livestock to replace those lost in the disaster event
  • meeting carry-on requirements, including:
    • re-planting, restoring, or re-establishing areas affected by the disaster event
    • sustenance
    • essential property operations
    • paying rent/rates+

It is important to note that eligibility for the program requires that businesses/primary producers must be located in one of the following disaster areas:

  • Bundaberg Regional Council
  • Fraser Coast Regional Council
  • Gympie Regional Council
  • North Burnett Regional Council
  • South Burnett Regional Council

Similarly, details of the Loan include:

Loan Amount Maximum of $250,000
Loan Term Up to 10 Years
Repayments If needed, up to two years interest only may be available
Security A loan under the Scheme must be secured by a mortgage or land and other assets satisfactory to QRIDA
Fees No establishment fees, no account maintenance, and no fees for early payout

Application Process

To be considered for a loan, you must complete an Application Form - accompanied by the documentation required as listed on the form. Forms are available via www.qrida.qld.gov.au.

Please be advised that applications are open until 31 December 2023.

For More Information

For further information, please visit: https://www.qrida.qld.gov.au/program/disaster-assistance-loans

Valda Glynn

Written by Valda Glynn

As a Director of Archer Gowland Redshaw, Valda has over 15 years’ experience as an executive leadership professional – combined with more than 25 years’ experience within Public Practice, having worked for a number of accounting firms throughout Australia.