Small businesses and not for profit organisations who have been directly impacted by the Victorian Floods commencing October 2022 are eligible to apply for concessional loans of up to $250,000 to restore or replace damaged assets, and meet general expenses incurred while the clean-up is underway.

The approved loan amount will be determined by Bendigo and Adelaide Bank in accordance with estimated damage costs and the ability to repay the loan and provide adequate security, and must satisfy Bendigo and Adelaide Bank  lending policies, responsible lending standards and the Banking Code of Practice.

What is a concessional loan?

A concessional loan is a commercial loan arrangement at a discounted interest rate made possible by the Government. To be eligible for assistance, applicants must demonstrate the capacity to repay debt based on historical cash flows and provide adequate land security.

What documents do I need to provide?

You will need to complete an Expression of Interest Form along with the following supporting documents:

• Proof of property location i.e., copy of latest Council Rates or lease
• Evidence of direct damage/loss of income eg. quotes, invoices, lost earnings, BAS statements and photos of direct flood damage
• Past 3 years financial statements and personal tax returns for yourselves and your business and a copy of your ATO Portal
• Cash flow budget for the present financial year and next financial year
• Statement of assets and liabilities
• Proof of identify documents (100 points) and ‘wet certified copy’ of your Trust Deed (if applicable)

You may be asked to provide further information so that we can better understand your historical performance and capacity to repay the loan in accordance with responsible lending practices. Eligible applicants will also need to complete a Concessional Lending Application Form to be signed by all individuals associated with the small business.

How do I apply?

We understand that small businesses and not for profit organisations significantly impacted by the floods are seeking financial support as soon as possible. By law Bendigo and Adelaide Bank must adhere to responsible lending practices in accordance with the Banking Code of Practice. To fully assess your loan application, we may need to contact your Accountant, Bank, Rural Financial Counsellor/Small Business Advisor seeking further information. Processing times vary between one to 10 months depending on the associated business structure and return of additional information if requested. We recommend that applicants seek independent financial advice before applying for a concessional loan.

Applications close on 25 May 2023 and can be submitted by email or post to Rural Finance:

Email: .(JavaScript must be enabled to view this email address)

Post: Rural Finance, PO Box 1313, Bendigo Central 3552

Please contact Rural Finance on 1800 260 425 if you have any questions.