Coronavirus SME Guarantee Scheme.

What Is The New Coronavirus SME Guarantee Scheme And How It Can Benefit Your Business?

"May you live in interesting times" says the ancient Chinese curse and, boy, are we certainly living in them. The Corona virus has smashed through business in Australia with the force of a Tsunami and nobody knows the ultimate impact that it will have.

In response, the government has released a whole raft of packages aimed at assisting business and its employees to survive this massive storm.

One of those packages is the Corona Virus SME Guarantee scheme and it could be a lifesaver for your business.

The Scheme provides eligible small businesses access to up to $250,000 in unsecured funding for up to three years, including an initial six-month repayment holiday with accrued interest to be amortised over the remainder of the loan.

The major benefit to business with this scheme is because the government is guaranteeing the loans it should mean that the interest rates charged will be a lot less than the rates currently charged for unsecured lending.

The Coronavirus SME Guarantee Scheme is due to run from April 2020 until September 2020.

So far, the government has approved 34 banks and non-lenders to participate in the scheme.

Given the limited time span and the evolving nature of the scheme it is important to make contact with knowledgeable and experienced finance brokers such as Horizon Specialist Finance to ensure you receive the most up to date advice and whether you qualify for a loan through the scheme

Here at Horizon Specialist Finance, we work with business owners, and their accountants if appropriate, to ensure applications are complete, accurate and appropriate. This is the best way to ensure as many businesses as possible have their applications processed as quickly as possible.

Contact us, and let's talk about your business - the challenges you face, and what you need to do to succeed in this difficult environment.

Whether you have acute cash flow issues, or you are expecting a downturn in the future, or even if you simply want to understand your options.

NOW is the time to talk to us, to set a short, medium and longer term plan in place.

Simply complete our very short loan enquiry form and we will be in touch.

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