The SME Recovery Loan Scheme enables small and medium-sized enterprises (SMEs) to access Loans up to $5 million to get through the impact of coronavirus, recover and invest for the future.
The Australian Government works with lenders to:
enhance lenders’ ability to provide cheaper credit
ensure that eligible businesses have access to finance to maintain and grow their business.
What are the eligibility criteria?
The scheme is open to SMEs with a turnover of up to $250 million that either:
the recipient of a JobKeeper payment between 4 January 2021 and 28 March 2021 (a JobKeeper Scheme-Backed Loan can only be approved under this eligibility prior to the Scheme Expansion date of 1 October 2021)
affected by the floods in eligible Local Government Areas in March 2021 (a Flood affected loan can only be approved under this eligibility prior to 1 January 2022)
adversely economically affected by COVID-19 (a Covid Scheme-Backed Loan can be approved under this eligibility from the Scheme Expansion Date of 1 October 2021).
Self-employed individuals and non-profit businesses are eligible. Businesses that have accessed loans in Phase 1 and Phase 2 can also apply for loans under the scheme.
To find out more information and to apply for this grant please follow the below link or contact Jacob Christie at Wimmera Mallee Accounting: https://business.gov.au/grants-and-programs/sme-recovery-loan-scheme