Following the devastating bushfires on the NSW South Coast, the Australian Government has made available a range of financial assistance to help with clean up and recovery in the Shoalhaven and Eurobodalla.
The Special Disaster Concessional Loan – Bushfires is providing support loans of up to $500,000 to small business owners, primary producers and non-profit organisations. Funding is available through two streams:
- Bushfire Recovery - Replacement costs for restoring and/or replacing damaged assets.
- Bushfire Working Capital – Essential expenses while the business returns to its normal level of trading.
Subject to the funding stream these loans will be subject to a repayment holiday for a period of up to two years, and loan holders will have three to eight years to make all repayments.
To be eligible, you must:
- be a small business owner, primary production enterprise or a non-profit organisation
- hold an Australian Business Number (ABN) or be registered with the Australian Charities and Not-for-profits Commission (ACNC)
- be located in the defined disaster area for the eligible disaster
- have been engaged in carrying on the business, farming activity or be a non-profit organisation when affected by the disaster
- be primarily responsible for meeting the costs claimed in the application
- be intending to re-establish the business, non-profit organisation or farming activity within the same local government area
- have suffered significant damage to assets as a direct result of the disaster, or have suffered significant loss of income as a direct result of the disaster
Eligible costs include:
- repairing or replacing damaged plant and equipment
- repairing or replacing buildings and fences
- paying salaries or wages
- paying rent, lease and rates
Applications close on 4 August 2020.
For information on personal hardship and distress assistance, contact the Disaster Welfare Assistance Line on 1800 018 444.