Natural Disaster Loan Small Business

What is the Natural Disaster Loan Small Business?

The Natural Disaster Loan Small Business is a program that provides low interest loans to small businesses directly affected by a declared natural disaster.

Background

The Natural Disaster Loan provides low interest loans to small businesses directly affected by a declared natural disaster.

The loan is intended to help small businesses:

return to their normal level of trading or until the next major income is received within 12 months from the date of disaster
replace and repair damage caused and associated improvements not covered by insurance.

Funding

Small businesses who have been directly affected by a declared natural disaster including floods, fires or storm damage, may be eligible for low interest loans of up to $130,000.

Eligibility

This assistance measure is only provided to eligible small businesses following the declaration of a Natural Disaster by the NSW Government.

When activated, loans are available to small businesses that meet the following criteria:

Have fewer than 20 full time (or equivalent) employees;
Are a registered business, partnership or sole trader
Have an Australian Business Number (ABN) and
provide the owner with their primary source of gross income (more than 50%)

To be eligible small business operators must:

have assets which have been significantly damaged as a direct result of the declared disaster event
have been viable prior to the declared event
demonstrate that the assistance will ensure the business continues to be viable
demonstrate that they are continuing or will reestablish the business enterprise within the same location, or within the same local government area
earn the majority of their gross income from the business enterprise and
demonstrate that the business enterprise has the capacity to repay the loan sought.
Have been in working occupation of your business at the time of the natural disaster.
Demonstrate that your business has long-term viability.
Demonstrate that your business has the capacity to repay the loan sought
Provide security, acceptable to the NSW Rural Assistance Authority.

Timing

Applications may be made after the declaration of an eligible disaster.

More Information

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