Queensland COVID-19 Jobs Support Loans

Providing low interest loans to businesses financially impacted by Coronavirus.

The Queensland Government has made available $500 million as low interest loans of up to $250,000 to businesses and non-profits financially impacted by Coronavirus. Loans will have a fixed interest rate of 2.5% for a 10 year term with no payments for the first year and only interest payments for the second year. Applications for the loans program have now closed due to overwhelming demand.

Queensland businesses and non-profit organisations financially impacted by Coronavirus will be able to access the Queensland Governments $500 million COVID-19 Jobs Support Loan scheme. The Government is looking to supply working capital for businesses to retain employees and maintain operations during this difficult time.

Applications are open now for loans of up to $250,000 at a fixed interest rate of 2.5% to assist with operational expenses such as wages, rent and other related expenses. Eligible business types include sole traders, partnerships, private and public companies and Trusts.

All COVID-19 Jobs Support Loans will be provided for a term of 10 years, with no repayments or interest charged for the first year, followed by two years of interest only payments. Principal and interest repayments will commence from the third year for the remainder of the loan term.

Eligibility

Business types include sole traders, partnerships, private and public companies and Trusts who have been financially impacted by the Coronavirus pandemic.

Concessional loans are available up to 50 per cent of an eligible entity’s annual wage expense, to
a maximum of $250,000.

Applicants must also have

  • one or more equivalent full-time employees in Queensland
  • operated the business or non-profit organisation since 1 July 2017;

Important dates

Applications are now closed due to overwhelming demand.

Applications will be open until 25 September 2020 or until funding is fully committed.

How to apply

Apply online

To apply successfully have ready your:

  • Business Financial Statements for 2017-18 and 2018-19
  • Personal Taxation Returns for 2017-18 and 2018-19
  • Bank Account Information
  • Australian Tax Office (ATO) Integrated Client Account Statement
  • Aged list of debtors and creditors at time of application
  • Applicant Identification
  • Organisation Constitution or Rules of Association and Certificate of Incorporation (if applying as a non-profit organisation)
  • Trust Deed (if applying as a trust).

 

Links to Government Resources

FAQs

The Queensland Queensland Job Support Loan is a $500 million fund available to business as low, fixed interest loans of up to $250,000. Loans will have a 10 year repayment period with no payments in the first year and only interest payments in the second year.

To be eligible you must be a registered business with an ABN and registered for GST or an incorporated non-profit organisation.

You must also have at least one full time employee in Queensland and have operated since 1 July 2017.

You have also been financially impacted by the Coronavirus pandemic.

Apply online here

To apply successfully have ready your:

  • Business Financial Statements for 2017-18 and 2018-19
  • Personal Taxation Returns for 2017-18 and 2018-19
  • Bank Account Information
  • Australian Tax Office (ATO) Integrated Client Account Statement
  • Aged list of debtors and creditors at time of application
  • Applicant Identification
  • Organisation Constitution or Rules of Association and Certificate of Incorporation (if applying as a non-profit organisation)
  • Trust Deed (if applying as a trust).

 

Queensland COVID-19 Jobs Support Loans - Frequently Asked Questions(FAQ)

What is the Queensland Job Support Loan?

The Queensland Queensland Job Support Loan is a $500 million fund available to business as low, fixed interest loans of up to $250,000. Loans will have a 10 year repayment period with no payments in the first year and only interest payments in the second year.

Who is eligible for a Queensland Job Support Loan?

To be eligible you must be a registered business with an ABN and registered for GST or an incorporated non-profit organisation.

You must also have at least one full time employee in Queensland and have operated since 1 July 2017.

You have also been financially impacted by the Coronavirus pandemic.

How do I apply for a Queensland Job Support Loan?

Apply online here

To apply successfully have ready your:

  • Business Financial Statements for 2017-18 and 2018-19
  • Personal Taxation Returns for 2017-18 and 2018-19
  • Bank Account Information
  • Australian Tax Office (ATO) Integrated Client Account Statement
  • Aged list of debtors and creditors at time of application
  • Applicant Identification
  • Organisation Constitution or Rules of Association and Certificate of Incorporation (if applying as a non-profit organisation)
  • Trust Deed (if applying as a trust).

 

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