Search

Keywords:

COVID-19 Response Search

Government business cash flow loan scheme

Government announced they will provide loans of up to $100,000 to help small to medium sized businesses, including contractors and self-employed.

The scheme provides a one-off government loan for businesses and organisations impacted by COVID-19 to help with cash flow. Applications are open until the 12 June 2020. Small to medium sized businesses with 50 or fewer full-time employee equivalents can apply. The scheme is also open to sole traders and self-employed businesses. 

Details of the loan includes:

  • $10,000 to be provided to eligible businesses
  • an additional $1800 per full-time employee equivalent
  • interest free if the loans are paid back within a year
  • an interest rate of 3% for a maximum term of five years
  • repayments not required for the first two years.

The maximum amount you can borrow depends on the number of full-time and part-time employees you have. If you are a business without employees, ie sole trader or self-employed, you can receive a loan of up to $11,800. Find out more information and how to apply at the Ministry of Business, Innovation and Employment. 

All About Whitianga
 Coromandel, NZ

All About Whitianga

We have 595 guests and one member online

Stay in Touch

Subscribe to the See Yourself Here ® newsletter