QRIDA – Disaster Assistance Loans: Primary Producers

This program seeks to support communities to recover after an eligible disaster. It provides concessional loans to primary producers whose assets have been significantly damaged as a direct result of an eligible disaster.

Loans of up to $250,000 are available.

The amount available is based on an assessment of an applicant’s financial position, including any amount recovered under an insurance policy and cannot be more than the amount of the net loss caused by an eligible disaster.

The term of the loan is decided by QRIDA up to a maximum of ten years. An interest only period of up to two years may be granted.

There are no establishment fees, account maintenance fees and fees for early payout. The current interest rate is 1.37%.

Please refer to the Guidelines for the initial annual interest rates of each defined disaster areas activated concessional loans.

Eligible applicants must meet the following criteria:
- The applicant must be a primary producer.
- The property where the enterprise is carried on has been significantly damaged as direct result of an eligible disaster.
- The property is either:
a) In the defined disaster area for the disaster.
b) The enterprise is an individual disaster-stricken enterprise as a result of the disaster.
- If the primary production enterprise involves wild-catch fishing:
a) A boat or equipment used in carrying on the enterprise has been lost or significantly damaged as a direct result of the disaster.
b) Either the boat or equipment was in the defined disaster area for disaster; or the enterprise is an individual disaster-stricken enterprise as a result of the disaster.

Please refer to the Guidelines for the complete eligibility requirements.

Eligible activities include:
- Repairing or replacing damaged plant and equipment.
- Repairing or replacing farm buildings.
- Purchasing livestock to replace those lost in the disaster.
- Meeting carry-on requirements, including:
a) Re-planting, restoring or re-establishing areas affected by the eligible disaster
b) Sustenance
c) Essential property operations
d) Paying rent or rates

Compensate for loss of income suffered as a result of the disaster is not eligible.