Small businesses and not-for-profits in seven northern Queensland council areas can now apply for concessional loans to assist with their recovery from the sustained rains and flooding in the past week.
Loans have been activated for the local government areas of Burdekin, Cairns, Cassowary Coast, Hinchinbrook, Palm Island, Townsville and Yarrabah, provided through the joint Commonwealth-state Disaster Recovery Funding Arrangements.
Disaster Assistance Loans up to $250,000 for eligible primary producers and small businesses and up to $100,000 for eligible not-for-profits will help re-establish operations by covering costs relating to:
- Repairing or replacing damaged plant and equipment;
- Repairing or replacing buildings;
- Resupplying stock or livestock.
Essential Working Capital Loans up to $100,000 are available to help operators carry on business operations, including paying salaries or wages, creditors, rent or rates.
For loan applications visit the QRIDA website, www.qrida.qld.gov.au, or call 1800 623 946.
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