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Bushfire Assistance 2009 - Small Businesses Small Businesses physically affected in the 2009 bushfires are eligible to seek assistance in the form of grants and/or concessional loans. Clean-up and Restoration Grant
The Clean-up and Restoration Grant provide a one-off grant to small businesses who have suffered direct physical damage as a result of the 2009 bushfires in Victoria for clean-up, removal of debris and business restoration. They comprise two components, an initial grant of up to $5,000 and a supplementary grant of up to $20,000. The grants are not intended to replace the need for insurance, and are not intended to provide compensation for losses. Insurance payments will not affect eligibility for the initial grant but will be taken into account in the assessment of the supplementary grant. Eligibility The Clean-up and Restoration Grants are a discretionary payment, and although not income tested, are based on the needs of the applicant, which must be demonstrated through an assessment process.
Clean-up and Restoration Grants can assist with:
Grant Entitlements The amount of each Clean-up and Restoration Grant is based on need. An initial maximum of up to $5,000 is available for immediate clean-up and debris removal. A further grant of up to $20,000 is available following a more detailed assessment which is subject to a separate application and may be supplemented with a concessional interest rate loan. Payments are paid directly to the business’ nominated bank account or paid by cheque.
Applications must be made within 6 months of the impact of the fire. Any applicant found to provide information of a fraudulent nature may be liable to prosecution and will be required to repay the grant. Applications Applications for the Initial Clean-up and Restoration Grant have now closed. To apply for the supplementary grant of up to $20,000 you are required to have lodged an Initial Clean-up and Restoration Grant prior to the closing date and have completed and lodged by Thursday 31 December 2009 the Application for Bushfire Supplementary Grant – Small Businesses. A detailed assessment of this application will be undertaken by an officer of Rural Finance.Completed applications should be forwarded to: Other Assistance Business counselling and advice is available for from Small Business Victoria on 132 215 or www.business.vic.gov.au. If you require an alternative to a pdf please contact marketing@ruralfinance.com.au Concessional loans are available to eligible small businesses that are assessed to be in need of financial assistance as a result of losses or damage caused by the physical impact of bushfire. Applicants will be expected to demonstrate that the business has reasonable prospects of trading profitably in the future including a capacity to service borrowings. Each case will be assessed on its merits. Rural Finance will work closely with the banking sector to develop suitable packages to meet individual requirements and would expect to share any funding requirements with the normal finance provider. Applicants may be sole owners, partnerships or owners of private companies where the major portion of their income is derived from the business and who substantially devote their time and capital to the conduct of the business. Loans will bear a concessional interest rate for an initial period not exceeding five years. In the first instance the rate will be 3.2% per annum. At the end of the five year concessional period, loans for purposes other than working capital may be extended for a further period of up to ten years, but the interest rate on any extended loan will be subject to review and will be set at, or close to, commercial interest rates prevailing at that time. Any application for loan assistance will have regard for insurance recoveries and the financial resources available to affected applicants. Loans are available up to $200,000 for any small business operator. Adequate security will be required for any lending. Application fees will not apply. To apply for the Bushfire Assistance Loan the Bushfire Application Loan – Small Businesses should be completed and lodged by Wednesday 30 June 2010. Completed applications should be forwarded to: PO Box 1313 Bendigo Central 3552 Ph: 1800 255 925 Fax: (03) 5441 8901 Email: admin@ruralfinance.com.au If required, a Rural Finance officer will be in contact for a further discussion, which may include a personal interview or on-site visit.
If you require an alternative to a pdf please contact marketing@ruralfinance.com.au. |
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