SME Recovery
Loan Scheme

Designed to support SMEs impacted by COVID-19, the SME Recovery Loan Scheme could be the boost your small to medium sized business needs. But first, it is best to check eligibility and uses of the scheme.

Loans issued under the Scheme can be used to1:

  • refinance pre-existing loans including those from the SME Guarantee Scheme
  • support investment
  • purchase non-residential real property such as commercial property
  • acquire another business

Some restrictions apply such as:

  • not allowing loans more than 30 days in arrears to be refinanced
  • not allowing loans to borrowers who have entered external administration or are insolvent
  • lenders can vary or restructure loans when they continue to meet eligibility criteria (including the maximum loan term)
  • lenders do not increase the loan limit after approval

Loans issued under the Scheme cannot be used to:

  • purchase residential property
  • purchase financial products
  • lend to an associated entity
  • lease, rent, hire, or hire purchase existing assets that are more than half-way into their effective life

The key features of the Scheme for eligible businesses are:

  • available to small and medium sized businesses with turnover of up to $250 million including the self-employed
  • borrowers can access up to $5 million
  • a loan term of up to 10 years
  • an optional repayment holiday period of up to 24 months may be offered
  • the government guarantee is 80% of the loan amount
  • loans can be unsecured or secured (excluding residential property)
  • loans available until 31 December 2021

Contact your finance specialist for more details and to find out if the Scheme is right for your business

1 SME Recovery Loan Scheme |

Partner Purl is : 0501dbfd





Contact the office

We are here to support you with your business needs or expansions. Contact us today to find out how.

Notice: Trying to access array offset on value of type null in /home/customer/www/ on line 60
ABN 83 108 030 173Australian Credit Licence xxxxxx

Disclaimer: This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances. Your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. © 2021