Government expands small business loan scheme eligibility

  • 📰 SkyNewsAust
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 78%

United States News News

United States United States Latest News,United States United States Headlines

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.

“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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in US

United States United States Latest News, United States United States Headlines