Government proposal to offer up to 6.25 billion in loan money to small and medium sized businesses. Just putting it out there to give SMEs certainty and hope.

Eligibility:

  • Businesses with turnover of between $250,000 to $80 million will be eligible for loans of up to $500k
  • Term up to 3 years
  • Risk will be shared between Government and Banks 80:20, leveraging the Crown’s financial strength
  • Must be solvent pre Covid-19
  • Banks to offer competitive, transparent rates

Watch this space for the public announcements to come.