SME Recovery Loan Scheme

No entries match your request.

small biz

treasury

The Federal Government’s SME Recovery Loan Scheme is designed to support the economic recovery, and to provide continued assistance to SMEs with a turnover of up to $250 million that received JobKeeper payment between 4 January 2021 and 28 March 2021. The Scheme is enhancing lenders’ ability to provide cheaper credit

Features

Participating lenders are offering guaranteed loans on the following terms

  • The Government guarantee will be 80% of the loan amount.
  • Lenders can offer borrowers a repayment holiday of up to 24 months.
  • Loans can be used for a broad range of business purposes,
  • Borrowers can access up to $5 million in total, in addition to the Phase 1 and Phase 2 loan limits
  • Loans are for terms of up to 10 years, with an optional repayment holiday period.
  • Loans can be either unsecured or secured
  • The interest rate on loans will be determined by lenders, but will be capped at around 7.5 per cent

see Commonwealth Treasury website for full information: https://treasury.gov.au/coronavirus/sme-recovery-loan-scheme

No entries match your request.