“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.
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Sorry Treasurer. This loan scheme is one big failure. As the banks make the decision they only give it to the companies who could already take it.
Better late than never.