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January 2010 - NSW Natural Disaster Assistance

 

NSW Natural Disaster Assistance Schemes
 
Many people are unaware of the measures that are in place to provide assistance to Primary Producers and Small Business under these schemes.
 
When an event (bushfire, flood, hail etc) has been declared a Natural Disaster by the NSW Government this allows those persons affected by the event to request assistance under these various schemes. To be eligible your business must be within a Local Government Area that has been declared a Natural Disaster.
 
The assistance available is by way of a loan at concessional interest rates (2.56%) of up to $130,000. Applications must be lodged within 6 months of the date of the natural disaster. These funds are available for:
 
Essential Working Capital:
                The amount required to continue normal business operations for the next 12 months from the date the disaster occurred or until the next major income is received.
 
Replacement and repair of damage caused to the property and associated improvements not covered by insurance:
Assistance does not cover costs unrelated to the business enterprise or commitmentsoverdue at the time of disaster such as trading accounts, lease or hire purchase instalments, interest on borrowings or loan repayments.
 
Terms of the loans can be up to ten years and the repayment term is proceeded by a two year interest and repayment free period.
 
Security required is a registered mortgage over land, but not necessarily a first mortgage.
 
For more information and eligibility criteria contact the NSW Rural Assistance Authority on:
 
1800 678 593 or 02 6391 3000
 
Or Visit the website
 
www.raa.nsw.gov.au

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