Flood assistance for Queensland small businesses

31 Jan 2013 2:14 PMJann Stuckey

Thursday, January 31, 2013

Queensland small businesses affected by flooding are encouraged to check if they are eligible for government financial assistance to help get their business back on track.

Tourism, Major Events, Small Business and the Commonwealth Games Minister Jann Stuckey said small businesses could be eligible for concessional loans of up to $250,000 under the Natural Disaster Relief and Recovery Arrangements (NDRRA).

“We want operators to know the Newman Government is doing all it can to help reduce the impacts on small businesses,” Ms Stuckey said.

“I encourage all small businesses in a disaster-declared local government area directly affected by water-inundation to see if they are eligible for assistance under NDRRA.

“Some businesses have not long recovered from the last flooding event in 2010-11, and now they are facing the same battle again.

“Queensland small businesses are strong and resilient, but even the most resilient sometimes need a helping hand to cope with circumstances outside their control.

“Small business employs just over half of the state’s private sector employees.

“Now more than ever, Queenslanders need to support small businesses.”

Under NDRRA provisions, a low interest loan up to $250,000 can assist small businesses to re-establish 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:
        •  restoring or re-establishing areas affected by the disaster event
        •  sustenance
        •  essential property operations
        •  paying rent and rates.

Additionally, there are no loan establishment, ongoing maintenance or early payout fees.

Ms Stuckey said Category B assistance is now available to 21 local government areas.

Information about declared disaster areas and available assistance can be found at:
http://www.business.qld.gov.au/business/running/disaster-resilence-and-recovery/natural-disaster-assistance( http://www.business.qld.gov.au/business/running/disaster-resilence-and-recovery/natural-disaster-assistance )

[ENDS] 31 January 2013