QRIDA – Disaster Assistance (Essential Working Capital) Loans: Small Businesses

This program seeks to support communities to recover after an eligible disaster. It provides concessional loans to small business owners who have suffered a significant loss of income as a result of an eligible disaster.

Loans of up to $100,000 are available. The maximum loan amount includes any previously approved Disaster Assistance Loans for the North & Far North Queensland Monsoon Trough.

The amount available is based on an assessment of an applicant’s financial position, including any amount recovered under an insurance policy; and cannot be more than the amount of essential working capital reasonably required.

The term of the loan is decided by QRIDA up to a maximum of ten years. An interest only period of up to two years may be granted.

Please refer to the Guidelines for the initial annual interest rates of each defined disaster areas activated concessional loan.

Eligible applicants must meet the following criteria:
- The applicant must be a small business owner.
- Before the eligible disaster, the applicant carried on a small business in the defined disaster area.
- The applicant has suffered a significant loss of income as a result of the eligible disaster.

Please refer to the Guidelines for the complete eligibility requirements.

Eligible activities must be used as essential working capital, this includes:
- Paying salaries or wages
- Paying creditors
- Paying rent or rates
- Buying goods, for example – fuel essential to carry-on the small business