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Frequently Asked Questions - Disaster Assistance (Essential Working Capital) Loans

For what purposes are Disaster Assistance (Essential Working Capital) loans available?

Disaster Assistance (Essential Working Capital) loans up to $100,000 are available to provide essential working capital if your enterprise has suffered a significant loss of income as a result of an eligible disaster.

Essential working capital is money that is necessary to continue the normal operation of the enterprise for up to one year.
Examples of uses of essential working capital include:

  • paying salaries or wages
  • paying creditors
  • paying rent or rates
  • buying goods, including for example, fuel essential to carry on the enterprise
  • buying fodder or water for livestock or produce or transporting livestock or produce.

Can I apply for a Disaster Assistance (Essential Working Capital) loan if my enterprise has not experienced direct damage from an eligible disaster?

Yes. If your enterprise has not experienced direct damage, but has suffered a significant loss of income as a result of an eligible disaster, you may be eligible for a Disaster Assistance (Essential Working Capital) loan.

Can I apply for a Disaster Assistance loan and a Disaster Assistance (Essential Working Capital) loan if I have suffered both direct damage and loss of income?

No. You may receive assistance under either a Disaster Assistance loan up to $250,000 or Disaster Assistance (Essential Working Capital) loan up to $100,000, but not both loans.
If you have suffered direct damage you may access funds for working capital requirements under a Disaster Assistance loan.

What fees and charges do I pay on a Disaster Assistance (Essential Working Capital) loan?

The only cost associated with a Disaster Assistance (Essential Working Capital) loan is interest which is charged at a concessional rate.
There are no fees or charges for establishing, maintaining or early pay out of a Disaster Assistance loan.

Is there a requirement to provide periodic review information to QRIDA?

Yes. Disaster Assistance (Essential Working Capital) loans are reviewed on an annual basis. Three months prior to your annual review, QRIDA will contact you for current financial information.

If I have questions in completing my application, where can I go for assistance?

Regional Area Managers are available in Bundaberg, Cloncurry, Innisfail, Kingaroy, Emerald, Mackay, Rockhampton, Roma and Toowoomba. QRIDA representatives in Brisbane are also available to assist you. To speak to a QRIDA representative, phone Freecall 1800 623 946. Your accountant or bank may also be able to provide you with assistance.

Last updated
22 November 2018