Natural Disaster Loan Small Business

If your business has been impacted by the severe weather and flooding in February and March 2022, you may be eligible for the NSW Natural Disaster Loan Small Business.

This is a low interest loan of up to $130,000 for:

essential working capital to continue business operations until normal income resumes; and/or,
replacement and/or repair of property damaged as a result of a disaster, not covered by insurance.

Eligible Businesses

Your business (including sole traders and partnerships) must:

employ 20 or less full time equivalent employees;
hold an active Australian Business Number (ABN) at the time of the disaster;
have assets which have been significantly damaged as a direct result of the declared disaster event;
have been viable prior to the declared event and demonstrate that the assistance will ensure the business continues to be viable ;
demonstrate that you are continuing or will re-establish the business 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 you have the capacity to repay the loan.

You will also need to provide security, acceptable to the NSW Rural Assistance Authority.

Amount, Term and Interest Rate

The maximum loan is $130,000. The first 2 years are interest and repayment free. This period is followed by a loan term of up to 10 years (making the maximum loan term 12 years). Note the term for you may vary depending on the amount borrowed and the your repayment capacity.

The interest rate is a concessional rate. On 4 March 2022 the current interest rate was 0.80%.

How to Apply

To learn more about the NSW Natural Disaster Loan Small Business and get the application form click here

If you need help putting together the information required, such as cash flow please reach out to me

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