Frequently Asked Questions

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 first interest charges will start to accrue on your 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 loan. Payments shall be charged monthly thereafter and debited to your nominated business transaction account.

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.

The scheme guidelines required that all loans with an approved value of more than $100,000 needed to be secured by a General Security Agreement on the PPSR.

Yes, you can refinance your 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.

Additional repayments or the full repayment of your 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.

Loans eligible for refinancing are those obtained from a financial institution and held immediately before the disaster event, in relation to carrying on a primary production enterprise, small business or non-profit activities, other than any of the following types of loans:

1. off-balance sheet financing
2. a short-term credit facility
3. a loan established at a concessional rate under a Commonwealth or State government scheme or
4. an equipment finance loan.

Yes, in limited circumstances funds can be used to refinance a commercial loan.

If your application is successful, you may choose for QRIDA to pay the invoice directly to the service providers, up to the approved amount, or for QRIDA to reimburse funds to your nominated bank account if you have already paid invoices.

Assistance amounts provided under the scheme will be calculated on the invoice amount excluding GST.

(You may be eligible to claim this GST component as part of your normal Business Activity Statement (BAS) submissions).