Increase in flood funding
BUNDABERG’S larger flood affected businesses and farms will be eligible for loans of up to $650,000, the state government announced earlier today.
The additional assistance was activated in the Bundaberg area, meaning more funding was available under the Natural Disaster Relief and Recovery Arrangements.
The council area was upgraded from a category C to a category D disaster area.
The change meant the region’s larger businesses and industries would now be eligible for the $650,000 loans which had a $50,000 grant component.
The loans were offered for a 10-year period with the first two years interest and repayment free.
Under the previous arrangements, businesses with more than 20 full-time employees were not eligible for flood assistance.
The category D funding has no employee limit.