Loans will be subject to lenders’ credit assessment processes with the expectation that lenders will look through the cycle to sensibly take into account the uncertainty of the current economic conditions.

As part of the loan products available, the Government will encourage lenders to provide facilities to SMEs that only have to be drawn if needed by the SME. This will mean that the SME will only incur interest on the amount they draw down.If they do not draw down any funds from the facility, no interest will be charged, but they will retain the flexibility to draw down in the future should they need to.

Timing

The Scheme will commence by early April 2020 and be available for new loans made by participating lenders until 30 September 2020.

How to apply

Take a detailed read of the official government website which explains further details click here. There are some very good practical examples at the end of the page when going to the above link, so please read the whole article.

We can assist you be arranging funding options for any Asset purchases or Debt restructure that you may require. Call 1800 88 5626  10am to 10pm, 7 days per week.