Governments are already coming up with assistance for SME business and sole traders, in addition to personal assistance, for those directly affected by the awful flooding in parts of NSW and SE Queensland. We will continue to monitor what help is out there, but here is a start. We contacted a Sign business in one of the worst affected areas - Port Macquarie
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| The scale of the flooding damage will only be apparent as waters subside |
One of the worst affected areas is Port Macquarie, NSW. David Marshall runs Sign City Plus there and has mercifully avoided the worst and told WFOL:
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David Marshall - Sign City Plus |
"The Chinese have a curse that simply says 'May you live in interesting times.' Droughts, bushfires, pandemics and now floods, it certainly has been an interesting twelve months. People around here are a resilient lot, leadership at all levels has been superb and the way that the community has pulled together is a true demonstration of the spirit of the place. The water will recede, floors will be scrubbed, tears will be wiped, smiles will return and the place will quickly return to vibrant and beautiful with a new resolve. It's empowering when you can confront the worst that mother nature has to offer and come through it in one piece, Sign City Plus remains strong and ready." Mr Marshall says.
On Sunday 21st March, the Prime Minister Scott Morrison announced the activation of the Australian Government Disaster Recovery Payment and Disaster Recovery Allowance (AGDRP) for 18 NSW local government areas.
Disaster Recovery Allowance
The Disaster Recovery Allowance (DRA) provides income support payments to employees, primary producers and sole traders who can demonstrate they have experienced a loss of income as a direct result of the storms and floods.
DRA provides fortnightly payments for up to 13 weeks up to the applicable rate of JobSeeker Payment or Youth Allowance, depending on the person's circumstances.
DRA is available to Australian residents who are 16 years and older.
DRA is not available to those already receiving another income support payment or pension such as the Age Pension, JobSeeker Payment or Service Pension.
You have until 10 September 2021 to lodge a claim for AGDRP in the thirty four (34) local government areas of: Armidale, Bellingen, Blacktown, Blue Mountains, Camden, Campbelltown, Canterbury Bankstown, Central Coast, Cessnock, Clarence Valley, Coffs Harbour, Cumberland, Dungog Shire, Fairfield, Hawkesbury, Hornsby, Inner West, Kempsey, Ku-ring-gai, Lake Macquarie, Liverpool, Maitland, Mid-Coast, Nambucca, Newcastle, Northern Beaches, Parramatta, Penrith, Port Macquarie-Hastings, Port Stephens, Sutherland, Tenterfield, The Hills and Wollondilly.
For eligibility information, visit the Services Australia website or contact the Australian Government Information Hotline on 180 22 66 for claims for assistance.
Disaster Recovery Funding Arrangements - NSW State Govt
The joint Australian, state and territory governments' Disaster Recovery Funding Arrangements (DRFA) provide a range of financial assistance to the natural disaster-declared areas in each state or territory.
For the north coast storms and floods from 10 March 2021 onwards the available assistance measures include:
- Personal hardship and distress assistance
- Counter disaster operations
- Restoration of damaged essential public assets
- Concessional interest rate loans for small businesses, primary producers and non-profit organisations
- Freight subsidies for primary producers
- Grants for non-profit organisations
For information on available recovery assistance, visit the Resilience NSW website.
Queensland State Govt. initiatives
Small businesses are encouraged to refer to Business Queensland’s website for resources about what your business should do during a natural disaster.
Business Queensland recommends businesses that have been forced to close or reduce operations to call 1300 731 988 for the Chamber of Commerce and Industry Queensland’s Employer Assistance Line for support.
BANKS
Commonwealth Bank
Commonwealth Bank is providing emergency assistance to its business and insurance customers in NSW flood-affected areas.
Small business customers can contact the bank to request customised payment arrangements for home and personal loans, as well as credit card loans. Customers can also request fee waivers, temporary overdrafts and emergency credit limit increases on their loans.
For CommInsure customers, Commonwealth Bank can assist with emergency accommodation if a customer’s home has been damaged and can fast-track claims for people seeking help through their home and contents insurance.
Information about Commonwealth Bank’s support options is available at this website.
National Australia Bank
National Australia Bank (NAB) is offering its business customers in NSW flood-affected areas assistance as part of a disaster relief package.
The package includes access to credit card and personal loan relief as well as the waiving of application fees and charges for withdrawing term deposits early.
NAB customers can also request application fee waivers for restructuring business loans and request to defer principal and leasing payments.
Further information is available here.
Westpac
Westpac’s emergency assistance for flood-affected customers in NSW includes a range of options for both business and insurance customers.
Westpac business customers can request to defer home loan and credit card repayments for up to three months.
Customers who need to purchase replacement goods can apply for personal loans at a discounted interest rate with no establishment fee. They can also restructure their loans without paying fees.
Westpac is offering eligible home and contents insurance customers access to emergency funds and temporary accommodation under the terms of their policy. For assistance, call Westpac Assist on 1800 067 497.
ANZ
ANZ announced it would provide a financial support package to help customers and businesses that have been affected by floods along the east coast of New South Wales.
ANZ encourages customers affected by the floods to contact the bank to discuss range of financial support measures, including pausing payments for up to three months on home loans, credit cards, personal loans and some business loans.
ANZ is also offering temporary interest rate reductions on lending for customers experiencing extreme financial distress and can waive fees for restructuring business loans and for accessing term deposits early.
Wideformat Online will be contacting suppliers to discover what help is available to those who have lost machinery and inventory. Several suppliers implemented excellent support packages after the NSW bushfires last year.
