Government expands small business loan scheme eligibility

Описание: Treasurer Josh Frydenberg says increased support is now available for small businesses as the COVID loan scheme no longer requires businesses to have been on JobKeeper during the March quarter.

“This loan scheme has already been very successful,” Mr Frydenberg told Sky News Australia.

“More than 70,000 loans have been delivered, worth more than $6 billion.

“Now there had been a requirement that those recipients had been on JobKeeper during the March quarter - we’ve removed that requirement.

“Obviously they need to have been impacted by COVID, but we’re providing up to $5 million loans for up to 10 years with the first two years repayment free.

“Now that is a decision to enter into those loan agreements with the banks - guaranteed by the government - that individual businesses will make.

“No doubt this money will help with working capital, it will help businesses expand.”