Government guarantees loans to support businesses

By March 24, 2020Blog, COVID-19

What is available and to whom?

The Government has announced they will provide a guarantee of 50% to Small to Medium Enterprise (SME) lenders for new unsecured loans provided to small businesses (turnover up to $50 million). The loans are to be for working capital and not as part of refinance arrangements.  The Guarantee will apply to new loans from early April to 30 September 2020.  Loans will be up to three years, with an initial six month loan repayment holiday and with a limit of $250,000 per borrower. 

How do I get it?

The Scheme will commence by early April 2020 and be available for new loans made by participating lenders until 30 September 2020. 

For more information please click here. 

Remember, we’re here to help!

Here’s what Advivo is doing to help our clients and friends through these turbulent times and we urge you to please contact us sooner rather than later if you would like any assistance with these.