SME Loan Guarantee Scheme extended

small-business-brewery
small-business-brewery

The Federal Government has extended the Coronavirus SME Guarantee Scheme which helps small and medium sized businesses (SMEs) get access to the funding they need to adapt and innovate during the crisis. Under the existing Scheme, the Government is providing support to SMEs in partnership with 44 approved lenders by guaranteeing 50% of new unsecured loans to SMEs. The initial phase of the Scheme remains available for new loans issued by eligible lenders until 30 September 2020. The second phase of the Scheme will start on 1 October 2020 and will be available until 30 June 2021. More