Loans for small to medium sized businesses increased to $1 million
On Sunday 19th July the Federal Government announced an overhaul of its working capital loan scheme for small to medium sized businesses.
The original loan scheme offered low interest rate loans of up to $250,000, until September 30, for working capital purposes, and had to be repaid within 3 years.
Under the new scheme, banks will offer low interest rate loans of up to $1 million, until June 2021, for working capital and investment purposes, and can be repaid within 5 years.
Article posted Tuesday 21st July, 2020