Government-backed small and medium business loans
Starting from 23 March 2020, major banks are offering unsecured loans up to $250,000
Under the Australian Government SME Guarantee Scheme, eligible businesses can apply for these loans.
- Businesses with less than $50 million turnover are eligible to apply
- Unsecured loan of up to $250,000 for three years
- Australian Government guarantee for 50 per cent of the loan
- No interest payable unless the loan is used
- No repayments required for six months (interest will be capitalised)
- No establishment fees or monthly account fees
For more information
For more information, contact your bank.