In response to the devastating bushfires, the Coalition Government has today announced measures to immediately support impacted small businesses.
Federal Member for Page Kevin Hogan said what we’re doing today is increasing the grant from $15,000, which is being done with the state governments, now up to $50,000 for affected small businesses.
“We’ll also be providing loans of zero interest for two years of up to $500,000 and over 10 years at a concessional rate of what was around about 0.6 per cent on the current rates,” Kevin Hogan said. “This is going to save small businesses rebuilding their businesses with working capital and they don’t have to have had direct impact of the fires on their business to access these loans. “That’s worth over $100,000 in interest payments they wouldn’t have to make. This means that the loan doesn’t get bigger; they can just get back on with it.
The customers come back and the businesses rebuild and the local towns and communities rebuild with their support.
A support line, which will be staffed by trained financial counsellors, will provide information on the assistance and support available to small businesses in bushfire affected regions.
The Commissioner of Taxation has agreed to provide a range of assistance measures to businesses in identified bushfire-impacted postcodes to help to alleviate cash flow pressures and assist these businesses with their recovery efforts.
While the specialist Support Line is being established, businesses can call 13 28 46 or visit www.business.gov.au