As the flood waters continue to subside, food affected Queenslanders are returning to their homes and businesses, trying to make sense of the damage and work out what’s next

Personal hardship financial assistance is now available for those affected by recent rainfall and severe flooding, with grants on offer from both state and federal governments, as well as support packages from most lending institutions. 

But with so much to get your head around, from the dreaded clean-up through to insurance claims, keeping your family safe, getting your business moving once more, and working out how to get back to some sense of normality, it can be overwhelming.

To take some of the pressure off, we have created a list of resources that might help, when it comes to the financial support available.

First and foremost, we suggest you talk to your bank, lender, or financial institution regarding your home or business loan. 

Most financial institutions have already announced support packages, ranging from the freezing of repayments for three months through to one-off cash payments.

So, who’s offering what (subject to terms and conditions, of course)? Out in the market so far: 

• Westpac is offering $3000 to eligible business clients within the Westpac Group 

• NAB has announced that a $1000 cash grant is available to eligible NAB clients. 

• CBA has released several options, ranging from deferring home loan, credit card or personal loan payments through to waiving fees and charges, early access to term deposits, temporary overdrafts, and the refunding of merchant terminal fees for business customers.

Tap the images below to head to their respective assistance pages. As the situation is fluid, check with your bank for the latest information.

On the government front, there are grants available at both a state and federal level

The federal government is offering $1,000 per adult and $400 per child, in flood impacted families 

https://www.disasterassist.gov.au/find-a-disaster/australian-disasters

The Department of Social Services is offering no interest loans of up to $3,000 per household.

https://www.dss.gov.au/our-responsibilities/communities-and-vulnerable-people/programs-services/emergency-relief

Eligible people can also apply for the following commonwealth/state jointly funded financial assistance grants:

• Emergency Hardship Assistance Grant
• Essential Services Hardship Assistance Grant
• Essential Household Contents Grant
• Structural Assistance Grant
• Essential Services Safety and Reconnection Grant

Other useful resources include:

• Centrelink https://www.servicesaustralia.gov.au/
• The National Debt Hotline https://ndh.org.au/

If you’re a SBB Lending client or require advice on your borrowing position, please don’t hesitate to reach out. We are always here to help.