The Federal Government will provide a guarantee of 50% percent to SME lenders to support short term unsecured loans up to $250k. Some
banks may offer these interest free, however there is not a lot of clarity at this stage about the rates the banks will charge. The
Government will be encouraging lenders to only charge interest on the amount drawn down (so offering loans as a line of credit rather
than a loan)
The Scheme will commence by early April 2020 and be available for new loans made by participating lenders until 30 September 2020.
In addition, the Qld Government has made available low interest loans for up to $250k to assist with carry on expenses such as employee
wages, rent, rates and other related expenditure. Loas will be for a term of 10 years, with no repayments or interest charged for
the first year, with two years of interest only payments required. Principal and interest repayments commence from the third year
for the remainder of the loan term.
Further details on applying can be found here