NSW RAA can provide a loan to businesses located in one of the declared Local Government Areas (LGAs) if they have assets that have been significantly damaged as a direct result of the July 2022 floods.
For each loan, the first two years are interest and repayment free. Thereafter, the interest rate is currently 0.80% (subject to change). The total term of the loan is 12 years.
A registered mortgage over the land is required.
Following are the loans available.
Primary producers may be eligible for concessional loans up to $130,000
Basic eligibility requirements:
Small businesses may be eligible for concessional loans up to $130,000
Basic eligibility requirements:
Not-for-profit organisations may be eligible for concessional loans up to $25,000
Sporting clubs may be eligible for concessional loans up to $10,000
We will provide more information on the additional financial support the NSW Government will provide as soon as information is released.
For assistance with the above details or other circumstances, our team is available so please talk with us today.