Support for Small Businesses Impacted by Tropical Cyclone Alfred

If your business, primary producer or not-for-profit organisation has been impacted by Tropical Cyclone Alfred, financial assistance is available through the Queensland Rural and Industry Development Authority (QRIDA) to help you recover and resume operations.

Available Assistance:

For Small Businesses & Not-for-Profit Organisations:

• Disaster Assistance Loans – Concessional loans to repair or replace damaged assets and restore operations (up to $250,000 for Business and $100,000 for non-profit, terms up to 10 years).
• Essential Working Capital Loans – Concessional loans to cover essential operating costs due to loss of income (up to $100,000, terms up to 10 years).

For Primary Producers:

• Disaster Assistance Loans – Concessional loans for repairing and replacing assets, replacing livestock, and resuming business operations (re-planting, restoring or re-establishing areas affected by the disaster event, sustenance, essential property operations, paying rent and rates) (up to $250,000, terms up to 10 years)
• Essential Working Capital Loans – Concessional loans to assist with ongoing expenses such as wages, rent, and fodder and transporting livestock or produce. (up to $100,000, terms up to 10 years).

Difference Between Disaster Assistance Loan and Essential Working Capital Loan

• A Disaster Assistance Loan is available for businesses that have suffered direct damage from the disaster. This loan can be used to repair and restore business operations, as well as cover essential expenses the business is struggling to meet due to the disaster (e.g., lease payments, property rates, creditors).
• An Essential Working Capital is available for businesses that have not suffered direct damage but have experienced a significant drop in income due to the disaster. This loan helps cover essential operating costs (e.g., lease payments, property rates, wages, creditors) when the business cannot meet them within its existing credit limits.

Eligible Areas:

Disaster assistance has been activated for affected areas including:

• Brisbane City, Bundaberg, Fraser Coast, Gold Coast, Gympie, Ipswich, Lockyer Valley, Logan, Moreton Bay, Noosa, Redland, Scenic Rim, Somerset, Southern Downs, Sunshine Coast, and Toowoomba Regional Councils.

How Funding May be Used

• Loan funds provided are to 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.

• Loan funds are not provided to:
• Compensate for lost income due to the disaster.
• Cover direct damage costs beyond the scope of eligible assistance.

Key Details:

• Interest Rate: 2.14%
• Application Deadline: 31 December 2026
• Repayments: If needed, up to two years interest only may be available
• Security: A loan under the scheme must be secured by a mortgage of land and other assets satisfactory to QRIDA.
• No establishment or maintenance fees

Eligibility Criteria;

To qualify for assistance, applicants must meet the following requirements:

1. Be a Small Business Owner
• Hold an Australian Business Number (ABN)
• Not be a public company under the Corporations Act
• Employ fewer than 20 full-time (or equivalent) employees
2. Operate in the Defined Disaster Area
• The business must have been actively operating in the affected region before the disaster.
3. Suffered a Significant Loss of Income
• The business must demonstrate a major financial impact due to the disaster.
4. Additional Requirements
• Provide adequate security for the loan, which may include:
• A mortgage over land or other assets
• Additional security such as plant, machinery, or general business assets
• Continue operating in the affected area.
• Show reasonable prospects of recovery with financial assistance.
• Have used all available funds and credit before applying.
• Have no access to commercial finance for ongoing operations.
• Not have received another concessional loan related to the disaster.
• Not have engaged in excessive risk-taking in business operations.

How to Apply;

• To be considered for a loan please submit a completed application form, accompanied by the documentation stated on the application form.
• Application forms and related information can be accessed here

Primary Producer:

• Disaster Assistance Loans
• Disaster Assistance (Essential Working Capital) Loan

Business:

• Disaster Assistance Loans
• Disaster Assistance (Essential Working Capital) Loan

Non-Profit

• Disaster Assistance Loans
• Disaster Assistance (Essential Working Capital) Loan

Disclaimer: This article contains general information only. Regrettably, no responsibility can be accepted for errors, omissions or possible misleading statements or for any action taken as a result of any material in this guide. It is not designed to be a substitute for professional advice, as such a brief guide cannot hope to cover all circumstances and conditions applying to the law as it relates to these items.