Cashflow Recovery has access via its lender panel to Lenders selected by the Commonwealth Government to participate in the Coronavirus SME Guarantee Loan Scheme.
The Commonwealth Government has released The Coronavirus Small and Medium Enterprises (SME) Guarantee Scheme with support up to $40 billion of lending to SMEs (including sole traders and not-for-profits).
Under this scheme, Cash flow Recovery will be able to support even more Australian businesses during these uncertain times by providing:
- Access to Approved Lenders participating in the Coronavirus SME Guarantee Scheme Loans of up to $250,000 per borrower for new and existing customers.
- Loans to Small to Medium Businesses (SME) including sole traders, with a turnover of up to $50 million.
- Loans will be up to 3 years and provide Repayment Relief to defer principal and interest payments for the first 6 months (with interest being capitalised).
- Unsecured finance, meaning that borrowers will not have to provide an asset, such as their family home, as security for the loan; And
- A free initial assessment to see if you can qualify.
(Note the funds must be used for working capital or funding business growth initiatives, the SME Coronavirus loan scheme can’t be used for refinancing existing business loans.)
Funds will be available soon, if you would like to apply for a Coronavirus SME Guarantee Scheme Loan of up to $250,000 for your business or have questions about the scheme and how to qualify, please contact us on 1300 885 244 or complete the site contact form below for a confidential discussion.
To find out more contact us on 1300 885 244 or complete the site contact form below for a confidential discussion.