COVID-19 Jobs Support Loan gives veteran Fraser Coast businessman ‘the confidence to have a go’
After more than three decades owning a tyre shop on the Fraser Coast, it was a COVID-19 Jobs Support Loan which gave Bob Wicks ‘the confidence to have a go’ during and after COVID-19.
Bob Wicks
Bob has been at the helm of the family business, Bob’s Tyres, for 33 years but COVID-19 was among the most significant challenges the family had faced.
A COVID-19 Jobs Support Loan allowed Bob to continue supporting all 30 staff and pay carry-on costs to ensure the business not only survived COVID-19 restrictions but continued to be successful in the long term.
The loan scheme administered by the Queensland Rural and Industry Development Authority (QRIDA), provides finance of up to $250,000 for businesses and non-profit organisations impacted by COVID-19 to assist with carry-on expenses such as employee wages, rent and rates and other expenditure.
Bob said it was especially important to secure the business’ future as he prepared his son, Chris, to take over.
“Our son is taking the business over and the loan creates a solid footing for him to keep the business going,” Bob said.
“It makes the transition so much easier. It made sure we are solid and secure and everyone gets paid. We wanted to make sure my son could run the business well and not go through the hard times.
“COVID is one of the hardest challenges we have ever faced. We would be struggling if we didn’t have the loan. It has given us the confidence to have a go.
“We are family owned and we support everyone in town, everything we are able to. It’s a real family thing.”
Bob said 30 people worked in the regional business and they were all able to keep their jobs.
“We have not put off one person,” Bob said.
“The loan allowed us to pay the bills and wages quite comfortably with not a worry in the world. It was a relief.
“To know I had the money coming through, I was absolutely through the roof when I heard. It took so much pressure off, the loan was the best thing we ever had a chance of getting. We can do some things now and come out terribly strong as a business and continue to grow.
“It’s absolutely fantastic, it’s like winning the lotto.”
For important information about your loan visit the COVID-19 Jobs Support Loan page.
QRIDA is delivering the $1 billion COVID-19 Jobs Support Loan Scheme on behalf of the Queensland Government.
