NATURAL DISASTER RELIEF SCHEME Assistance for Small Business

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1 NATURAL DISASTER RELIEF SCHEME Assistance for Small Business The Natural Disaster Relief Scheme assists small business operators affected by flood/fire/storm damage or any other declared natural disaster. PURPOSE: Funding by way of a loan is available for: Essential Working Capital: The amount required to continue business operations until normal income resumes or until the next major income is received. Maximum period 12 months from date of disaster. Replacement and repair of damage caused to the property and associated improvements not covered by insurance. Assistance does not cover costs unrelated to the business enterprise or commitments overdue at the time of the disaster, such as; trading accounts, lease or hire purchase instalments, interest on borrowings or loan repayments. Assistance under this scheme by its nature is not compensatory therefore applicants need to be in urgent and genuine need of assistance. Note: In assessing this requirement the Authority will take into account all cash reserves, investments, undrawn overdraft balances plus loans with redraw facilities. AMOUNT: INTEREST: TERM: REPAYMENTS: A loan to a maximum of 130,000 is available. The interest rate is a concessional rate of interest, fixed for the term of the loan. Please contact the NSW Rural Assistance Authority on for current rates A repayment term of up to ten years dependent upon the amount borrowed and the applicant s ability to repay. The repayment term is preceded by a two-year interest and repayment free period. Monthly, half-yearly or annual repayments of principle and interest generally in line with the applicant s cash flow. SECURITY: Registered mortgage over land, not necessarily a first mortgage. Other security, including a mortgage from another person may be considered. The above information is a guide for prospective applicants. Full details can be obtained by contacting the Authority. NSW Rural Assistance Authority V: /10

2 AM I ELIGIBLE FOR ASSISTANCE? To be eligible you must: Earn the majority of your GROSS income from your business enterprise. Be in working occupation of your business enterprise. Operate your main business enterprise within a Local Government Area that has been declared a natural disaster. Be in urgent and genuine need of financial assistance. (NOTE: In assessing this criteria the Authority will take into account all cash reserves, investments, undrawn overdraft balances plus loans with redraw facilities) Demonstrate that if the required assistance were obtained commercially, your business enterprise would be placed in financial difficulty. Demonstrate that your business enterprise has long-term viability. Demonstrate that your total business enterprise has the capacity to repay the loan sought. Provide security, acceptable to the NSW Rural Assistance Authority. Lodge an application within six months of the date of the natural disaster. HOW DO I APPLY? Application forms are available from the NSW Rural Assistance Authority by telephoning: (02) or Toll Free Calls to "1800" numbers from your home phone are free. Calls from a public phone and mobiles may be timed and attract charges. Or visit our web site Application forms are also available from your local Rural Counsellor Send completed application forms to: NSW Rural Assistance Authority Locked Bag 23 ORANGE NSW 2800 NSW Rural Assistance Authority V: /10

3 APPLICATION for ASSISTANCE DISASTER RELIEF LOAN SMALL BUSINESS CHECK LIST To avoid any delay in the processing of your application, please complete the following checklist. Have you included: The last 3 years balance sheets and Financial Statements of your business enterprise. (These include Profit and Loss Statements, Trading account & Depreciation schedules) The last 3 years individual Taxation Returns and a current listing of all Assets & Liabilities held by each: Individual Director(s)/Shareholder(s) of all companies. Individual members of partnerships/firm & Family Trusts (Note: In each of the above, each Director/Shareholder etc. is to provide details including source of income, if they are not primarily dependent on the business for their livelihood). (Taxation Assessment Notices are not acceptable) Monthly Cash Flow Budget for next 12 months. Copy of Current Certificate of Registration from Dept of Fair Trading Have all questions been answered? Is all financial information completed as required? Have all parties (applicants) to the application signed the declaration? NSW Rural Assistance Authority 1 V: /10

4 1. NAME of APPLICANT(S) (Name of who is actually applying:- e.g. Sole Trader, Partnership, Firm, Company, Trust etc.) Trading Name ABN ACN FULL NAME(S) of OWNERS Business Address Position ( Director, Trustee, Partner etc) Date of Birth Contact Numbers: Phone Mobile Fax Postcode Postal Address [If different to business address] Postcode How many employees does your business have? Permanent (Full Time Equivalent) (Please note a full time employee is one working at Casual (Full Time Equivalent) least 35 hours per week) TOTAL (Full Time Equivalent) Briefly detail the nature of your business: What is your business experience? (not necessarily this business) Have you previously applied for assistance from the NSW Rural Assistance Authority? If YES give details:- Yes / No NSW Rural Assistance Authority 2 V: /10

5 2. BUSINESS DETAILS Do you own the business? Yes / No How long have you been the proprietor of the business? Date of Purchase Years What was the purchase price? Break up - Goodwill Stock Plant & equipment RENTED PREMISES If your business premises are rented or leased please answer the following: 1. Rent or lease payment (Weekly, Monthly, Annually) delete as applicable 2. Original term of lease? Years remaining on lease? 3. Is a written lease in existence? Yes / No If NO what are the lease arrangements? 4. Who is in possession of the written lease? What income, if any did you receive from sources other than the business during the last 12 months? (Quote sources) 3. DETAILS OF ASSISTANCE REQUIRED What type of disaster relief assistance are you applying for? (Flood, bushfire etc.) What was the DATE of the disaster? What is the amount of disaster relief assistance you will be applying for? Briefly describe how this natural disaster has affected your enterprise: NSW Rural Assistance Authority 3 V: /10

6 4. DETAIL ALL LOSSES SUSTAINED Date Losses (Stock, plant, fixtures & fittings, damage to premises etc). (A) Pre-Disaster Value (B) Cost of Replacement Insurance/ Compensation Received or Due What is the estimated cost of losses to your enterprise? What is the estimated cost of repair to bring your enterprise back to pre-disaster level? Were any of the losses suffered covered by insurance? If YES give full details of insurance cover: YES / NO Name of Agent: Phone No: Fax No: What are your recovery plans in the short term (next 6-12 months)? What are your recovery plans in the longer term (next 2 to 3 years)? What arrangements have you made with your bank, finance company and creditors? Please provide an age listing of all your creditors and debtors NSW Rural Assistance Authority 4 V: /10

7 5. DETAILS OF SECURITY OFFERED It is most important that this information is completed accurately. Please attach a copy of latest Council rate notice for each property Property A Property Address Registered Proprietor/s Date Purchased Current Market Value Amount Owing Title Reference Plan Reference (DP No.) Portion/ Lot No. Parish County Deeds Held By:- Property B Property Address Registered Proprietor/s Date Purchased Current Market Value Amount Owing Title Reference Plan Reference (DP No.) Portion/ Lot / Section No. Parish County Deeds Held By:- Other Property Held offered/ not offered as security. Property Address Registered Proprietor/s Date Purchased Current Market Value Amount Owing Title Reference Plan Reference (DP No.) Portion/ Lot / Section No. Parish County Deeds Held By:- ***PLEASE STATE HOW YOU ARRIVED AT THE ABOVE PROPERTY(S) MARKET VALUE(S)*** Are any of your assets encumbered by way of mortgage or charge, bill of sale, or hire purchase agreements? Yes / No If so provide full details: NSW Rural Assistance Authority 5 V: /10

8 6. MONTHLY CASH FLOW For the next 12 months from the date of the disaster. (Your own computerised schedule is preferable) INCOME Past 12 Months To tal Cash Sales Trade Debtors Other Income Total Cash Inflow EXPENDITURE Trade Creditors Salaries & Wages Stock Purchases Operating Expenses Interest Lease Rentals Other Other Other Personal Drawings Loan Repayment Hire Purchase Repayment Lease Repayment Disaster Repairs Total Expenditure Surplus (Deficit) Opening Bank Balance Closing Bank Balance NSW Rural Assistance Authority 6 V: /10

9 7. DETAILS OF ALL BORROWINGS PART A Enter information on Overdraft, Term Loans, Fixed Rate Loans, Commercial Bill facilities, Investment Loans or Family Loans or Private Loan Facilities, Credit Cards etc. (Indicate if interest is a V Variable or F Fixed in the appropriate column). (** Indicate:- [M] monthly, [H] half yearly, [A] annually) Financier Type Term in Years Limit Balance Owing (Dr/Cr) Interest Rate V or F Instalment ** Due Expiry / Review Date TOTALS PART B Lease Arrangements Lease Contract Company Amount Term in Years Balance Owing Interest Rate Instalment ** Due Residual Value Due Date TOTALS PART C Hire Purchase Arrangements Finance Term Company in Years Balance Owing Interest Rate Instalment ** Due Expiry Date TOTALS SUMMARY OF BORROWINGS PART A PART B PART C TOTAL TOTAL TOTAL TOTALS Balance Owing Annual Instalments NSW Rural Assistance Authority 7 V: /10

10 8. STATEMENT OF FINANCIAL POSITION OF ALL APPLICANTS (If individual partners of directors hold assets or liabilities that are not shown below please provide a separate statement) LIABILITIES (Show present debts) Total Borrowings (from previous page) ASSETS (Show present fair market value) Real Estate Residential Property Investment Property(s) (Detail) Trade Creditors Current days Business 60 days + Business Premises Business Stock Council Rates Business Plant & Equipment Business Fixtures & Fittings Sundry Creditors (List those ) Trade Debtors Current days 60 days + Motor Vehicle(s) Cash at Bank Share Portfolio Other Investments (Detail) Superannuation Other Assets TOTAL TOTAL Contingent liabilities Guarantees for loans etc. Have you ever been bankrupt, assigned a liquidator, or are there any unsatisfactory judgements against you in court? YES / NO If YES give details. NSW Rural Assistance Authority 8 V: /10

11 9. PRIVACY NOTICE The information in this application is provided voluntarily and is being collected by the NSW Rural Assistance Authority for purposes related to the administration of the scheme of assistance under which you have applied, including the assessment of the effectiveness of the scheme. This may involve disclosing the information in this application to contractors engaged by the Authority or to either State or Commonwealth government agencies. We will supply you with details of those that we have disclosed information to, if you apply to us in writing. Information regarding your application may also be discussed and exchanged with the nominated contact persons listed by you in your application. Not providing the information requested in this application or providing false or misleading or incomplete information may impact on the ability of the Authority to accurately assess your application. The NSW Rural Assistance Authority agrees to take all reasonable measures to ensure that the personal information collected by it is stored securely. You may access or correct your personal information by contacting the Authority by telephone on (toll free) (Calls to 1800 numbers from your home phone are free. Calls from a public phone and mobiles may be timed and attract charges.) or by writing to: Manager Administration, NSW Rural Assistance Authority, Locked Bag 23, ORANGE, NSW, CONTACT DETAILS Solicitor s Details Firm Name: Contact Name: Phone: Mobile: Fax: Accountant s Details Firm Name: Contact Name: Phone: Mobile: Fax: Financier s Details Bank or Company Name: Contact Name: Phone: Mobile: Fax: Rural Counsellor s Details Counselling Service Name: Contact Name: Phone: Mobile: Fax: DECLARATION I/We hereby give approval to the NSW Rural Assistance Authority to obtain and provide information relevant to this application from my/our banker(s), accountant or any other nominated person. I/We solemnly declare that this is a true and correct statement of all my/our affairs and I/We make this solemn declaration subject to punishment by law provided for any wilful false statement Signed Applicant: Applicant: Date: / / Date: / / Signed Applicant: Applicant: Date: / / Date: / / NSW Rural Assistance Authority 9 V: /10

12 Applications should be returned to: NSW Rural Assistance Authority Locked Bag 23, ORANGE NSW 2800 Contact details: 161 Kite Street, ORANGE NSW 2800 Telephone Freecall Calls to 1800 numbers from your home phone are free. Calls from a public phone and mobiles may be timed and attract charges. Facsimile rural.assist@raa.nsw.gov.au NSW Rural Assistance Authority 10 V: /10