Govt has only approved one bushfire recovery loan

Govt has only approved one bushfire recovery loan

Politics
IN NEED: Only one of the nearly 300 applications has been approved. Photo: Jamila Toderas

IN NEED: Only one of the nearly 300 applications has been approved. Photo: Jamila Toderas

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There have been nearly 300 applications.

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ONLY one of the nearly 300 loan applications made by bushfire-hit business has been approved by the federal government.

There have been 232 applications in NSW, 60 from South Australia and two in Queensland since February 3. Only one from Queensland has been approved.

Prime Minister Scott Morrison defended the low approval rate when he was grilled on the matter, as "the loans program has only recently opened".

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Recovery grants of up to $50,000 and concessional loans of up to $500,000 are available for small businesses impacted by bushfires, including primary producers.

Labor employment spokesman Brendan O'Connor said the package was failing to help those in need.

"Every day we hear from concerned small business owners and workers, from Bairnsdale to Ulladulla and everywhere in between, who have been waiting weeks for the government to release desperately needed funding to keep themselves afloat," Mr O'Connor said.

"Businesses have no cash flow to pay bills and workers have had shifts cancelled, or been put off entirely, due to the business downturn at what is normally the busiest time of the year."

The story Govt has only approved one bushfire recovery loan first appeared on Farm Online.

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