www.raa.nsw.gov.au
Drought | Infrastructure | Natural Disaster Loans | |||
|---|---|---|---|---|---|
Loan Features | |||||
Purpose of loan | Interest free loans to cover 100% of costs (GST exclusive) to assist with:
| To meet the cost of carrying out permanent capital works that fall in to 4 main categories:
| To meet the essential working capital required to continue operations and the replacement and repair of damage caused to property and associated improvements not covered by insurance. | To meet the restoration of essential facilities, equipment or other assets that have been damaged or destroyed; and/or temporary storage or leasing of alternate premises. | To meet the restoration of essential facilities, equipment or other assets that have been damaged or destroyed. |
Maximum amount available | $50,000 | $250,000 per year | $130,000 | $25,000 | $10,000 |
Current interest rate | Interest free | 2.50% fixed | 1.37% fixed | 1.37% fixed | 1.37% fixed |
Loan term | 7 years | Up to 20 years | Up to 10 years preceded by 2 years repayment free | Up to 5 years | Up to 5 years |
Repayment | 2 years repayment free from fully drawn date and then up to 5 years of principal only repayments | Principle + Interest | Principle + Interest | Principle + Interest | Principle + Interest |
Repayment Frequency | Monthly, half yearly, quarterly or annually | Monthly, half yearly, quarterly or annually | Monthly, half yearly, quarterly or annually | Monthly, half yearly, quarterly or annually | Monthly |
Security | Statutory Charge | Statutory First Charge and Registered Caveat over property | Registered Mortgage over land | Registered Mortgage over land | Agreement from Committee Members that loan will be repaid |
Establishment costs (registering security documents, title searches) | Yes | Yes | Yes | Yes | No |
Ongoing fees and other charges | No | No | No | No | No |
Extra repayments available (without incurring additional cost) | Yes | Yes | Yes | Yes | Yes |
For more information | |||||