State Announcement 1

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State Announcement 1

Carmen Lawson • March 30, 2020

State Government Business Loan Announcement

Hi All,

I have had a lot of questions regarding the $250k state government business loan.

I have summarised the state governments $250,000 business loan guidelines below:

Can be used for the following reasons:

• Paying employee wages

• Paying Creditors and existing business loan and equipment finance payments

• Paying rent and rates

• Buying goods, including fuel, for the purposes of carrying on the business

Can’t be used for the following reasons:

• Refinancing existing business loans or equipment finance (so not a way to get a cheap loan)

• Purchasing new equipment or other assets (so not a way to invest in equipment etc)

To be eligible

• Must be a business registered for GST

• Have one or more full-time employee’s

• Been in business since 1st July 2017

• Have suffered a loss of income as a result from COVID-19

If you believe that you are eligible then I encourage you to begin the application process.

Please be aware before you begin:

• You will have to have your 2019 financials and tax returns and BAS’s lodged up to date.

• Funding is only open until 25th Sept 2020 and is assessed in a date order format (i.e. first in first assessed)

• Funding can be audited by the State Government at anytime.

Applications can be submitted at:

http://www.qrida.qld.gov.au/current-programs/covid-19-business-support/queensland-covid19-jobs-support-scheme

*Disclaimer - All information posted in this update is true and correct at the time of posting. Legislation surrounding this situation is constantly changing. We will provide additional updates as required upon further government announcements or legislation changes. *

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