Local MP Deb Frecklington discussing flood damage with Brooklands farmer Mark Black

February 8, 2013

Member for Nanango Deb Frecklington has congratulated the State Government on offering Disaster Support loans at 1.7 per cent interest.

Mrs Frecklington said the announcement of concessional loans for primary producers and small businesses at a record low interest rate of 1.7 per cent was the lowest on record for NDRRA loans in Queensland.

“Our government has taken the unprecedented step of offering our primary producers and small business owners a low-interest loan rate which will help them get back on their feet and restore their operations after the floods,” Mrs Frecklington said.

“This is just the type of incentive that will make a real difference for people in our region who are really suffering,” she said.

The 1.7 per cent interest rate applies to Natural Disaster Assistance (Category B loans) activated from July 1, 2012, and are provided under the joint Federal / State Natural Disaster Relief and Recovery Arrangements (NDRRA).

Category B loans of up to $250,000 through QRAA are available to primary producers and small businesses directly affected by January’s Tropical Cyclone Oswald and associated rainfall.

“The loans can be used for replacing stock and livestock, important fence repairs and replacing damaged plant and equipment,” Mrs Frecklington said.

To be eligible for the concessional interest rate loan, primary producers and small businesses must have suffered direct damage and be located in a defined disaster area activated for the Category B loan assistance.

The new arrangements do not apply to existing QRAA loans.

Primary producers and small businesses with existing loans with QRAA and who may still be experiencing financial difficulty are encouraged to contact QRAA to discuss assistance measures including: extending their loan term, interest-only arrangements, deferring loan instalments and suspending repayments.

For further information on disaster assistance available through QRAA, please contact QRAA on Freecall 1800-623-946 or visit the QRAA website