Skip links and keyboard navigation

Queensland COVID-19 Jobs Support Loans

Applications have closed for the Queensland Government’s $1 billion COVID-19 Jobs Support Loan scheme.

Those applications already submitted are continuing to be assessed in date order received complete up until the $1 billion in funding is fully committed.

Unfortunately due to the unprecedented demand, and based on current average loan size and approval rate, not all applicants that have submitted an application will be able to be funded. Those unsuccessful applicants have been contacted by QRIDA by email and phone to advise of the outcome of their application and to provide them with further advice on other assistance options that may be available.

The Queensland Government scheme administered by QRIDA is helping Queensland businesses and non-profit organisations financially affected by COVID-19 to retain employees and maintain their operations.

COVID-19 Jobs Support Loans to date*

Tick icon

4,348
loans approved

Funds given icon

$642m
approved

Staffing icon

54,677
jobs supported

* As at 26 May 2020

As one of the first business support packages to be announced across Australia, the Queensland Government has doubled its initial funding for the COVID-19 Jobs Support Loan scheme to $1 billion. The concessional loan which includes no repayments in the first 12 months is providing immediate relief for businesses and as a stepping-stone to other assistance programs now available including:

Submitted applications

Submitted applications that have already been received, will be assessed in the date order that they have been received complete with all the required information for assessment.

Applications will continue to be assessed up until the $1 billion in funding is fully committed

Given the large volume of applications already received, the QRIDA team has significantly increased its resources to process these applications as quickly as possible to provide outcomes on submitted applications.

Our current expected processing times for loan applications received are as follows:

  • Up to 31 March expect to be processed by mid-May
  • From 1 April expect to be processed during May and up to mid-June depending on the date it was received complete. Applications will be assessed up until the $1 billion in funding is fully committed.

You can check the status of your loan application via QRIDA’s online application portal or contact us via Contact_Us@qrida.qld.gov.au or Freecall 1800 623 946 during business hours.

All processing is subject to available scheme funding.

Next steps with your application

Based on the current expected processing times, a QRIDA officer will contact you by phone or email once an application is registered.

If an application is incomplete (see application checklist) you will need to provide the required information for your application to be assessed.

During the assessment of your loan application a QRIDA officer may contact you by phone or email to clarify or seek further information to complete the assessment.

You can track progress of your application when you log in through the online portal – ‘draft’, ‘received’, ‘in-progress’ and ‘finalised’.

When your application is ‘finalised’, QRIDA will notify you via phone or email of the outcome of your loan application submission.

About COVID-19 Jobs Support Loans

  • $1 billion loan scheme
  • Maximum loan up to $250,000
  • No repayments or interest charged for the first year
  • Two years interest only
  • 2.5% fixed interest rate
  • 10-year term of loan
  • Principal and interest repayments will commence after the third year for the remainder of the loan term
  • Eligible business types include sole traders, partnerships, private and public companies and Trusts.
Last updated
27 May 2020