Queensland Small Business Loans Support Scheme - COVID-19 Relief

Monday, 30 March 2020   

Queensland Small Business Loans Support Scheme - COVID-19 Relief

Applications open Queensland COVID-19 Jobs Support Loans

Applications are now open for the Queensland Government’s $500 million COVID-19 Jobs Support Loan scheme. This scheme is for Queensland businesses and non-profit organisations financially affected by COVID-19 to retain employees and maintain their operations.

Low interest loans of up to $250,000 are available to assist with carry-on expenses such as employee wages, rent and rates and other related expenditure. Eligible business types include sole traders, partnerships, private and public companies and Trusts.

All COVID-19 Jobs Support Loans will be provided for a term of 10 years, with no repayments or interest charged for the first year, followed by two years of interest only payments. Principal and interest repayments will commence from the third year for the remainder of the loan term.

Loan features

  • $500 million loan scheme
  • Maximum loan up to $250,000
  • No repayments or interest charged for the first year
  • Plus two years interest only
  • 2.5% fixed interest rate
  • 10-year term of loan
  • Open until 25 September 2020 or until funding is fully committed.

To successfully apply online, have ready your

  • Business Financial Statements for 2017-18 and 2018-19
  • Personal Taxation Returns for 2017-18 and 2018-19
  • Bank Account Information
  • Australian Tax Office (ATO) Integrated Client Account Statement
  • Aged list of debtors and creditors at time of application
  • Applicant Identification
  • Organisation Constitution or Rules of Association and Certificate of Incorporation (if applying as a non-profit organisation)
  • Trust Deed (if applying as a trust).

Apply online here

 In addition Australian Banks will defer loans for up to 98% of all businesses affected by COVID-19. Businesses can lodge an online enquiry for a callback by their bank. Click here for a full list of Bank contacts.