QRIDA – Disaster Assistance Loans: Small Business

This program seeks to support communities to recover after an eligible disaster. It provides concessional loans to small businesses whose assets have been significantly damaged as a direct result of an eligible disaster.

Loans of up to $250,000 are available.

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 the net loss caused by an eligible disaster.

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 loans.

Eligible applicants must meet the following criteria:
- The applicant must be a small business owner.
- The applicant has sustained substantial damage to buildings, plant, equipment or stock as a result of an eligible disaster.
- The applicant’s small business was carried on in the defined disaster area immediately before the eligible disaster.

Please refer to the Guidelines for the complete eligibility requirements.

Eligible activities include:
- 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:
a) Sustenance
b) Paying rent or rates