Small Business Cash Flow Loan Scheme
To support cash flow needs, government will make available one-off loans to small businesses, including sole traders and the self-employed, impacted by COVID-19.
The small business cash flow loan scheme will provide support of up to $100,000 to businesses employing 50 or less full-time employees.
Details of the loans include:
$10,000 to be provided to eligible businesses
An additional $1800 per equivalent full-time employee
Interest free if the loan is 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.