To our amazing Ecolease community
In this COVID Bulletin we set out to explain how the government guaranteed loan works, how you can apply, and also offer other options that may work for your business at this time.
Remember, if you are considering using these options, it’s essential that you talk with your accountant and key stakeholders.
1. Government backed Loans for Businesses (SME Guarantee Scheme)
- SMEs with a turnover of up to $50 million will be eligible to receive these loans
- Maximum loan is $250,000 per borrower
- The loans will be up to three years, with an initial six month repayment holiday
- Rate circa 4.5% p.a