The Minister for Disaster Recovery has announced a range of loans for businesses and councils affected by the recent bushfires.
The Minister, John Barilaro said the financial support included grants of up to $50,000 for small businesses directly affected by bushfire, up to $250,000 to Local Government Areas, a Bushfire Working Capital Loan of up to $50,000 and low interest loans of up to $500,000 to eligible small businesses, primary producers and not-for-profit groups in bushfire-impacted areas.
“As we move into the recovery phase, communities are facing unprecedented challenges and there will be many difficult months ahead,” Mr Barilaro
“These grants and loans will assist bushfire-affected communities to get back on their feet,” he said.
Mr Barilaro said the funding would be provided jointly by the NSW and Commonwealth Governments through Disaster Recovery Funding Arrangements.
The Minister for Finance and Small Business, Damien Tudehope encouraged small businesses to apply for the funding.
“The Bushfire Working Capital Loan is up to $50,000 and is specifically designed to provide an immediate injection of money to help return and continue business operations, with a two-year interest free and repayment free period,” he said.
“The larger Bushfire Recovery Loan of up to $500,000 is over 10 years, with a two-year interest free and payment free period,” Mr Tudehope said.
