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