Victorian Travel Industry launches Unique Lending Scheme for Tsunami Relief

The Victorian chapter of the Australian Federation of Travel Agents (AFTA) has launched a unique scheme to raise funds for tsunami relief, then provide low interest loans to travel industry colleagues whose businesses have been destroyed or damaged in affected areas.

The programme, in partnership with Austcare, raises money from within the Australian travel industry, then provides funds to travel businesses in tsunami-hit regions, for the purpose of infrastructure reconstruction.

“Millions of dollars have already been raised throughout Australia to provide general assistance to victims of the tsunamis in Asia,” said the Vice Chairman of AFTA, Mr Mario Perrone. “Our aim is more specific – to provide direct assistance to colleagues in our own industry, whose businesses have been destroyed or seriously impaired by this catastrophe.

“Many of our travel industry colleagues in affected areas have either lost their incomes and assets, or suffered significant depreciation of their positions and are not able to meet the minimum security requirements required by commercial lenders,” said Mr Perrone.

“Through the programme we are creating, all funds raised through the Victorian AFTA appeal will be maintained in an Austcare bank account which is subject to audit, and under the scrutiny of officers of the St George Bank.

“As infrastructure is rebuilt, and businesses are restarted, funds will be repaid gradually then recirculated in new loans to other travel professionals who have also been affected by this disaster and are seeking to rebuild their businesses.”

Mr Perrone said more than A$100,000 had already been raised for the AFTA Australia appeal, and said a special fundraising event would be held next week in Melbourne to generate more cash for the emergency relief fund.

The event, a A$40 per head cocktail function, will be held from 6.30pm until 10.30pm next Thursday, 24 February, at The Events Warehouse, Shed 9, South Wharf Road at Southbank, and will include food, drinks and live entertainment . There will also be a “silent auction” of holiday packages, airline tickets, hotel stays, Formula 1 Grand Prix tickets and sporting memorabilia valued at A$30,000. If you would like to attend this event email: Anna Bruce on annab@concorde.com.au by close of business on Friday, 18 February.

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