Frequently asked questions
QRIDA has developed a wide range of frequently asked questions to help you find the answer you need. View them here.
View FAQS for QRIDA programs and services here.
Additional repayments or the full repayment of your COVID loan can occur at any time, without any additional charges. Simply download and complete the loan payout form and a member of the QRIDA team will be in touch with you to discuss your options.
Yes, you can refinance your COVID loan to another lender. Please download and complete the loan payout form and a member of our team will be in touch with you to discuss.
Yes, any change to the ABN which you use in operating your business will impact upon your loan agreement. Should you be considering a change to your ABN, please contact your Portfolio Manager on jobsupportloan@qrida.qld.gov.au to discuss prior to making any changes.
Yes, any change to your business structure or business name needs to be discussed with QRIDA before you make any decisions or changes. Please contact QRIDA on jobsupportloan@qrida.qld.gov.au to discuss your proposal with your Portfolio Manager.
No, if you cease to operate the business that received the COVID-19 Jobs Support Loan, you are unable to maintain your loan. Please contact QRIDA to discuss your situation and proposal before you make any decisions. Email your Portfolio Manager on jobsupportloan@qrida.qld.gov.au.
Yes, if you are relocating your business to a new address you will need to advise QRIDA of this change. Please complete a change of contact details form and email to jobsupportloan@qrida.qld.gov.au.
QRIDA holds a General Security Agreement against your business on the Personal Property Security Register (PPSR) if your initial loan balance was more than $100,000. To discuss the partial release of an asset from the QRIDA security, please email jobsupportloan@qrida.qld.gov.au and a member of the QRIDA team will be in touch to discuss.
If you are struggling to make the repayments on your loan, please contact QRIDA to discuss your specific situation and circumstances. QRIDA will then review your loan account and business in order to assist you. To commence this discussion, please complete a financial hardship form and email to jobsupportloan@qrida.qld.gov.au
QRIDA will contact you via telephone, email, SMS or post. If you are concerned about whether the contact you have received is genuine, please contact QRIDA on 1800 623 946 and ask to speak with your Portfolio Manager.
To change your direct debit details for your QRIDA loan, please complete the direct debit amendment form and the change will be processed by QRIDA.
No, if you cease to operate your business you will need to arrange for the repayment or refinance of your COVID-19 Job Support Loan. Please contact your Portfolio Manager on jobsupportloan@qrida.qld.gov.au to discuss your situation prior to making any decisions.
A Deed of Priority may be required by your commercial bank to formalise the loan security arrangements between lenders. This request will require QRIDA to undertake an assessment of your business and the security position proposed. To discuss this with QRIDA, please email jobsupportloan@qrida.qld.gov.au and your Portfolio Manager will be in contact to discuss.
The terms and conditions of your loan were provided to you with your facility letter (loan agreement) that you signed when you took up the loan. View the general loan conditions.
Loan account statements will be issued on a financial year basis in July. If a loan statement is required at any other time, please complete the loan account statement form. Otherwise, a statement will be issued in July.
The first interest charges will start to accrue on your COVID loan on the 1 year anniversary of the loan drawdown.
Your first interest payment will be due 13 months from the date at which you received your COVID loan, for example, interest will start to calculate 1 year after the funding date and the first payment will be due one month after that.
Payments will be charged monthly thereafter and debited to your nominated business transaction account.
The scheme guidelines require that all COVID loans with an approved value of more than $100,000 needed to be secured by a General Security Agreement on the PPSR.
QRIDA is committed to ensuring due administrative processes are undertaken with the decisioning of applications for Government assistance.
When making decisions on applications, as well as the internal review of a decision, QRIDA follows the QRIDA Decision-Making Policy and Procedure.
You can view this Policy and Procedure on the Reviewing a decision page.