Business Finance Guarantee Scheme
More small and medium-sized businesses may be eligible for the Business Finance Guarantee Scheme, with a simplified and expanded scheme now in place.
Participating banks can provide new loans, increased limits to existing loans or a revolving credit facility to eligible businesses. The scheme supports banks to take on lending by government taking on the default risk of up to 80% of the loan.
Changes to the scheme mean the loans can be used for capital purchases and projects in response to or recovery from COVID-19. This