An additional level of assistance is now available to primary producers and business owners impacted by February's monsoon trough disaster, thanks to the Queensland Rural and Industry Development Authority.
Thanks to state and Commonwealth funding, exceptional disaster assistance loans of up to $1m are now available to help impacted people restock, repair and rebuild over the longer term.
They are accessible by businesses across seven north west shires including Burke, Carpentaria, Cloncurry, Flinders, McKinlay, Richmond and Winton.
According to QRIDA spokesman Brendan Egan, the new loan, with terms of 1.37 per cent for terms of up to 10 years, included no repayments of either principal or interest for the first two years of the loan, and a further two years interest-only period may also be available.
Related: Flood recovery grants welcome
"This initial two year repayment relief will help give cash-strapped producers and business owners more time to recover and return to generating a normal income," Mr Egan said.
"In addition to buying livestock to replace those lost in the disaster event, these loans are available to help primary producers meet carry-on requirements and essential property operations, re-establishing pastures and restoring property infrastructure.
"The $1m loan can also be used as a producer's matching co-contribution for the up-to-$400,000 Restocking, Replanting and On-Farm Infrastructure Grant that is administered by QRIDA on behalf of the Australian government.
"Business owners can use the loans to repair of replace damaged plant and equipment or buildings and to meet requirements for carrying on their business operations including paying creditors, rates, rent and wages."
Mr Egan said primary producers and business owners looking to the next stage of their flood recovery including larger-scale investment in infrastructure repairs or restocking activities should contact QRIDA to discuss their options.
To date, QRIDA has approved close to $80 million in special disaster assistance recovery grants to affected primary producers, small business owners and not-for-profit organisations across North Queensland.
It has also approved 40 disaster assistance loans of up to $250,000 for a total of $5.7million and close to $6million in the co-contribution restocking grant.
Mr Egan urged producers not to self-assess but to contact QRIDA on Freecall 1800 623 946 or visit www.qrida.qld.gov.au where they could find application forms and guidelines.
Read more: Counting the cost of the north west flood
Sally Gall
Based at Blackall, CW Qld, where I've raised a family, run Merino sheep and beef cattle, and helped develop a region - its history, tourism, education and communications. Get in touch at 0427 575 955 if you've got a story idea for me.
Based at Blackall, CW Qld, where I've raised a family, run Merino sheep and beef cattle, and helped develop a region - its history, tourism, education and communications. Get in touch at 0427 575 955 if you've got a story idea for me.
