NSW Government flood support service

A range of support and information is available for NSW businesses impacted by the recent rainfall and floods.

Small business recovery grants up to $50,000 (direct damage)

These grants are designed to provide short-term targeted assistance for recovery and reinstatement activities, including safety inspections, repairs to premises and internal fittings, and replacement of stock.

Primary producer recovery grants up to $75,000 (direct damage)

The grants are designed to provide short-term targeted assistance for recovery and reinstatement activities, including salvaging crops and repairs to damaged farm infrastructure (e.g. fencing) and equipment.

Concessional loans 

• Small business and primary producers concessional loans of up to $130,000
• Concessional interest rate loans for not-for-profits
• Freight subsidies of up to 50 percent for primary producers

Disaster Recovery Payment 

One-off financial assistance for individuals at a rate of $1000 per eligible adult and $400 per eligible child. Claims for this payment can be lodged with Services Australia for a period up to 6 months.

Disaster Recovery Allowance 

A fortnightly income supplement is available to primary producers and sole traders who have lost income as a direct result of the disaster.

Funds will soon be available through NSW Government agencies at: https://www.service.nsw.gov.au/campaign/storm-and-flood-assistance-businesses, or phone 13 77 88 for assistance.

Mental Health Support Services

The impact of disasters, such as storms and floods, can take its toll on small business owners. The stress, worry and anxiety many operators experience can have an effect their health and ability to effectively run the business, and can impact those around them, including employees and family. To find out what mental health support is available to help small businesses, see here.

Help for affected small businesses to meet their tax obligations 

The ATO also offers assistance with meeting tax obligations for businesses impacted by floods. More information is available here.

Help from your financial institution 

Australia’s banks have announced options to defer loan repayments for up to 3 months for those customers affected by the flood disasters in NSW and Queensland.

Depending on your circumstances, assistance may also include:

• Waiving of fees and charges, including for early access to term deposits
• Debt consolidation to help make repayments more manageable
• Restructuring existing loans free of the usual establishment fees
• Offering additional finance to help cover cash flow shortages
• Deferring upcoming credit card payments
• Emergency credit limit increases

Contact your institution for further details.

Help from your telecommunications provider

Telstra and Optus are offering assistance for residential and small business customers who have lost services following the severe storms and major flooding across eastern parts of NSW. Contact your provider for more information.

Financial hardship
If you’re experiencing financial distress because you’re unable to meet your financial obligations due to the direct impact of the storms and floods, there are certain steps you can take to seek relief. To read information about financial assistance available to small business, see here.