Qld Government to offer businesses interest-free loans amid coronavirus crisis

The Queensland Government will offer businesses interest-free loans to help keep them afloat amid the coronavirus crisis.

Premier Annastacia Palaszczuk unveiled the new measures today, worth around $500 million.

In a statement, she said the “rapidly evolving impacts of the pandemic demanded a rapidly evolving response from Government.”


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“We know just how tough Queensland families and businesses are doing it in the face of this pandemic,” the Premier said.

“We know the effects of this outbreak will grow and intensify, and as they do, so will our measures to protect Queenslanders health, their jobs and their businesses.”

It comes as modelling shows the virus is likely to cost the Queensland economy around $2.5 billion.

Related: Queensland coronavirus cases rise to 78

The $500 million concessional loan facility will comprise loans of up to $250,000 with an initial 12-month interest free period to help businesses retain staff.

“The Queensland Government already backs farms and businesses with assistance loans in times of natural disasters,” Deputy Premier and Treasurer Jackie Trad said.

“Through the Queensland Rural and Industry Development Authority, we already have the mechanism in place to start rolling these loans out the door as soon as possible to help Queensland businesses keep staff on and survive this downturn.”

The six-month coronavirus payroll tax deferral will also be extended to all businesses across the state.

“As the Prime Minister has pointed out, it’s small businesses that are hurting the most, and its them we moved to help first with our initial payroll tax deferral earlier this month,” Ms Trad said.

“But we are seeing this outbreak is having a devastating impact on all Queensland companies, large and small, so now we will extend the offer of a six-month payroll tax deferral to all affected businesses across the state.”

“We know the deferral for small businesses was popular – in the first fortnight we’ve already seen companies from the Gold Coast to Far North Queensland in sectors from tourism and hospitality to marine engineering take up the offer.”

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How do we apply for the loan?

how do we apply for this loan

Does anyone know how to apply

How do I apply

I’m trying to find out too

Premier ,What about the small business with just one worker the owner you seem to be forgetting us going to let us go under are you a tax break is no good to a small business owner with no employees or aprentices .Looking after the big companies again the small business owner is the backbone of many small regional towns about time you relised they need help to

employ your neighbour on the books for $500 gross for the month no tax withheld & you will get $2K

I agree with Michael, there are many sole-traders or true “small”businesses with 5 or less employees who don’t pay payroll tax – so the assistance so far does not help them. These small businesses often have high rents and equipment finance obligations / leases linked to the home mortgages. The need to socially distance is completely understood and necessary, however it means many small businesses are not seeing foot traffic. Is there any likelihood of seeing government assistance for such scenarios? It is difficult for small business to meet these financial obligations for a sustained period and it feels as though the government agencies aren’t considering these smaller and important players.

So the people who don’t work get $750 free. Small businesses doing well purchase $150,000 write offs. Big corporates get apprentices subsidised or loans, and the most affected like the World Holiday Destinations travel website which relies on advertising to survive in the tourism industry gets no help at all.

Thanks Australian Government!

I have a small restaurant in cairns with 14 staff how do we apply for a loan

The least you could do is post a link to where we can access the loans insterad of clogging up internet searches with benign articles