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19 April 2018: Low interest loans available for disaster affected primary producers from TC Nora

19 April 2018

Primary producers across eight (8) North Queensland shires directly affected by major rainfall and flooding events in February and March may be eligible for low interest loans up to $250,000.

Following major rainfall and flooding events in February and March, primary producers directly affected from across eight (8) North Queensland shires may be eligible for low interest loans up to $250,000 to help recover and re-establish their primary production business.

The latest activation for Severe Tropical Cyclone Nora includes concessional loans for eligible primary producers in Carpentaria, Cassowary Coast, Croydon, Douglas, Etheridge and Hinchinbrook Shires. See table below of all North Queensland activations for primary producers.

Activation

Shire

Severe Tropical Cyclone Nora and Associated Flooding, 24 – 29 March 2018

Carpentaria, Cassowary Coast, Croydon, Douglas, Etheridge and Hinchinbrook

North Queensland Flooding 6 – 10 March 2018

Hinchinbrook and Cassowary Coast

North and North West Queensland Low and Associated Rainfall and Flooding event of 24 February – 8 March 2018

Cloncurry and McKinlay

Eligible primary producers may access two types of concessional loans at an interest rate of 1.32% and 7 year terms under Category B of the Natural Disaster Relief and Recovery Arrangements (NDRRA). These include:

  • Natural Disaster Assistance Loans of up to $250,000 can cover costs to re-establish a primary production enterprise as a direct result of the disaster event. These costs may include the repair or replacement of damaged plant, equipment or buildings; purchasing livestock to replace those lost in the disaster event or meeting carry-on requirements.
  • Natural Disaster Assistance (Essential Working Capital) Loans of up to $100,000 are also available to assist with essential working capital for expenses incurred following the disaster event. Such costs can include paying salaries or wages; paying creditors; paying rent or rates; buying goods such as fuel essential to carry on the enterprise; buying fodder or water for livestock or produce or transporting livestock or product.

For more information or how to apply visit our website at www.qrida.qld.gov.au or Freecall 1800 623 946 to speak to QRIDA or one of our regional representatives

  • North West & Gulf - Janessa Bidgood, Cloncurry Ph: 0427 007 240
  • Far North – Sam Spina, Innisfail Ph: 0429 497 757

To find out more about this assistance and the application process, visit www.qrida.qld.gov.au or Freecall 1800 623 946

Category B loans are administered by the Queensland Rural and Industry Development Authority (QRIDA) under the joint Commonwealth/Queensland Government funded Natural Disaster Relief and Recovery Arrangements (NDRRA).

Last updated
10 May 2018