The loan scheme will provide loans ranging from a minimum of $25,000 to a maximum of $200,000 for eligible businesses located in areas affected by the June 2016 floods.
Key features of the Flood Recovery Loan Scheme
- Loans are available for eligible primary producers and small businesses.
- Loan funds are to be used for essential working capital and/or replacement and repair of damage caused to the property, associated improvements and equipment not covered by insurance.
- Loan amounts will range from $25 000 to $200 000.
- Loans will be offered for a maximum term of seven years.
- Initial interest and repayment free periods of up to two years are available.
- Loans must be repaid in full or fully refinanced at the end of the agreed loan term.
- Applications will be assessed on the criteria included in the guidelines.
Applications close 16th of December 2016. Those wishing to apply should first contact one of the Department of State Growth’s finance managers through Business Tasmania on 1800 440 026. An application form will be provided once eligibility has been confirmed.
Read the full details here.