Australian Government’s Coronavirus SME Guarantee Scheme.

Under the scheme, eligible businesses can access unsecured business loans of up to $250,000 for three years at low rates, given the Government’s support and the Reserve Bank’s recently announced term funding scheme.

How it works

  • Borrow up to $250,000 (lending criteria applies) with an unsecured Business Loan
  • No application or ongoing monthly maintenance fees
  • No repayments required for six months
  • Variable rate applies for the term of this loan, currently 4.50% p.a. (subject to lenders risk rating)
  • Loan term is 36 months; interest capitalised and deferred for the first 6 months
  • Amortising principal and interest repayments for the remaining 30 months
  • All applications will be subject to a lending application, including credit assessment
  • You or your not-for-profit organisation turns over less than $50 million annually
  • You have an Australian Business Number (ABN)
  • You require working capital support during COVID-19 restrictions – this loan cannot be used for asset purchases, refinancing existing loans or be applied to existing loans, including top-ups or variations

Flakus and Associates has access to lenders relating to COVID-19 business loans. Contact Paul for any assistance in this type of business cash flow lending. Remember to TAKE CARE AND LOOK AFTER YOUR HEALTH.


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