Client Login

Queensland Jobs Support Loan Application – COVID-19

Due to overwhelming demand, the Queensland Government’s $500 million COVID-19 Jobs Support Loan scheme has now closed to new applications. QRIDA is continuing to process the large number of applications submitted as quickly as possible until scheme funding is exhausted. A wide range of other government assistance remains available for Queensland businesses impacted by COVID-19, please visit for more information.

The Queensland Government has now opened applications for the $500 million COVID-19 Jobs Support Loan scheme which is administered by The Queensland Rural and Industry Development Authority (QRIDA).

Queensland businesses and non-profit organisations who have suffered financial setback due to the ongoing COVID-19 pandemic, will be able to access the scheme to retain employees and maintain operations.

Loan availability and details

Loan availability

Concessional loans of up to $250,000 will be available to cover 50% of annual wage expense for entities eligible for the scheme.  Factors such as salaries, superannuation or drawings of business owners are included as part of an entity’s average wage expense for the 2017/18 and 2018/19 financial years. 

Loan security

No loan security will be required for loans up to $100,000.  Loans over this figure and up to $250,000 are to be secured by a General Security Agreement (a general charge over the business assets of an entity).

Loan terms and interest rates

The term of concessional loans is 10 years.  There will be no repayment and no interest charged for the first year.  For the second and third year payments will be interest-only. For the remainder of the loan, principal and interest repayments will be required.  Once loan repayments commence, they will occur on a monthly basis.  From the commencement of the second year and for the remainder of the loan term a 2.5% interest rate will apply to the loan.  If requested by QRIDA you may need to provide necessary financial information as part of an annual review of your loan. 

How loans may be used

The concessional loans are to be used to cover an entity’s working capital expenses, such as:
  • Paying employee wages
  • Paying creditors, existing business loan and equipment finance payments
  • Paying rent and rates
  • Purchasing goods, including fuel, for the purpose of carrying out business activities.
Expenses which are ineligible for the concessional loan include:
  • Refinancing existing business loans or equipment finance
  • Purchasing new equipment or other assets

To ensure loan funds have been expended on approved purposes, you will be required to consent to any subsequent audits as part of the scheme.


To be eligible for a concessional loan, businesses must hold an ABN and is registered for GST and non-profit organisations must by incorporated.  The entity must have been operating since 1 July 2017 and have one or more equivalent full-time employees in Queensland.  In addition, the entity must have suffered a loss of income as a result of COVID-19.

Owners of a business may be regarded as employees if they work in the business.  Employees who work for the entity at least 35 hours each week are considered full-time employees.  Businesses operating as Trusts, partnerships, sole traders, private and public companies are eligible.

Applicants of the loan must be considered viable and able to service the loan under normal business conditions.  Additionally, applicants must intend on using any surplus liquid reserves or normal credit sources up to normal credit limits, in conjunction with the loan in order to continuing operations after receiving the loan.

How to apply

The application for the scheme must be made directly by the business owner via the QRIDA online application portal.  Third parties, such as Accountants, are not permitted to submit the application on behalf of clients.

As accountants, we hold an important role in assisting clients to collate the relevant financial information and documentation required for the application.  If you need assistance in please do not hesitate to contact us.

Applicants will be required to provide financial statements for 2017-18 and 2018-19 including:    
  • Profit & Loss statement
  • Balance Sheet
  • Depreciation schedules

Draft financial statements for 2018-19 will be accepted by QRIDA if they have not yet been finalised.

Applications will be taken until 25 September 2020 or once the available funding of $500 million is used.

To ensure your application is complete please refer to the checklist provided by QRIDA.

How loans are assessed

Once QRIDA has received your application, you will receive an email confirming receipt and you will be informed if any additional information is required to commence the assessment process. 

When applications are being assessed, QRIDA may contact you to discuss circumstances in more detail and may liaise with your lenders and business advisers as necessary. 

Applications are assessed once all required information has been received and in order of the date they are received by QRIDA.

If the application is approved, upon completion of all necessary loan documentation, QRIDA will transfer loan funding to the nominated bank account.

More info?

QRIDA can be contacted on Freecall 1800 623 946 or via email:

We are here to help

If you have any queries regarding the Queensland Jobs Support Loan please do not hesitate to contact us on 07 3217 2477 or email us