Bushfire Concessional Loan Scheme
In December 2019, several bushfires ignited in the Adelaide Hills area and on Kangaroo Island causing significant damage to domestic property and businesses.
In response to the bushfires around the country, the Commonwealth Government announced concessional loans would be available, in conjunction with the relevant state governments, to help eligible small businesses, primary producers and non-profit organisations who were impacted.
In South Australia, those affected by the bushfires can apply for the Emergency Concessional Bushfire Loan Scheme.
Loans of up to $500,000 are available to support eligible impacted businesses. These loans have terms of up to 10 years and include an initial two-year repayment holiday period, which is also interest free. After two years, the loans have a concessional interest rate equivalent to 50 per cent of the 10-year Commonwealth bond rate (currently less than 1.0%). There will be no fees, charges or administration costs applied to these loans.
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