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Queensland Government Job Support Loan

Start With The End In Mind

UPDATE 2nd April 2020


The Queensland Government’s is now accepting applications for their Jobs Support Loan scheme. This scheme is for Queensland businesses and non-profit organisations financially affected by COVID-19 to retain employees and maintain their operations.

Low interest loans of up to $250,000 are available to assist with carry-on expenses such as employee wages, rent and rates and other related expenditure. Eligible business types include sole traders, partnerships, private and public companies and Trusts.

The Loan features are:

  • Maximum loan up to $250,000
  • No repayments or interest charged for the first year
  • Then two years interest only repayments
  • 5% fixed interest rate
  • 10-year term of loan
  • Open until 25 September 2020 or until funding is fully committed.

To apply online you will need to have the following information ready:

  • Business Financial Statements for 2017-18 and 2018-19
  • Including Profit and Loss Statement, Balance Sheet and depreciation schedules
  • Personal Taxation Returns for 2017-18 and 2018-19
  • Bank Account balances for all business accounts, loans and credit accounts
  • Australian Tax Office (ATO) Integrated Client Account Statement for previous 12 months
  • Aged list of debtors and creditors at time of application
  • Applicant Identification; Australian Driver’s Licence, Australian or international Passport, Medicare Card.
  • Organisation Constitution or Rules of Association and Certificate of Incorporation (if applying as a non-profit organisation)
  • Trust Deed (if applying as a trust).

In essence, the application process is very similar to any bank business loan application – ONEROUS

If you are thinking of applying, we suggest you do it soon as the $500 millions allocated by the government will run out quite fast.

Of course, MyAccountants can assist with your application and provide the necessary financial documents required by the QRIDA checklist.