Loans on offer for bushfire affected businesses, primary producers

Loans of up to $500,000 are being made available by the South Australian Government to assist small businesses, primary producers and non-profit organisations who have been affected by recent bushfires across the state.

The concessional loans offer has been created to allow those who are eligible to restore and replace assets and property and cover working capital expenses such as wages and rent.

Even though the loans were announced by the Federal Government last month, the state government would be handling the applications.

State Treasurer Rob Lucas said the scheme would assist local communities to continue to operate as they rebuild.

"Small businesses and primary producers are the backbone of our regional economies and the Government is pleased to be able to support them as they get back on their feet in the wake of the devastating bushfires,'' he said.

"These concessional loans will provide up to $500,000 for eligible businesses, such as tourism operators, and will cover costs including employee salaries, creditors, rent and rates while a business returns to its normal level of trade."

The loans - of up to 10 years - are interest-free for the first two years with no repayments required over that period and there will be no fees, charges or administration costs.

A subsequent concessional interest rate will apply, equivalent to 50 per cent of the Commonwealth bond rate, which is currently equivalent to less than 1 per cent.

For more information about eligibility and terms and conditions visit business.sa.gov.au or email SAFAIndustryAssistance@sa.gov.au