Accessing Funding for SME’s under SME Loan Recovery Scheme

Accessing Funding for SME’s under SME Loan Recovery Scheme

The eligibility for this scheme has been expended by the government to remove the need for SME’s to have received “Jobkeeper” as a pre requisite to qualify for funding. 

The scheme allows for SME’s with a turnover of less than $250 million to access funding of up to $5 million over a 10 year term. 

Some of the attractive benefits of this scheme 

  • Government guarantee for up to 80% of loan amount. 
  • Repayment holiday allowable by lenders for up to 2 years
  • The usage of the loan can be used to refinance existing debt, encourage additional and other business requirements
  • The nature of the loan can be either unsecured or unsecured