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COVID-19:  Small Business Cashflow Loan Scheme

May 1, 2020

The Government has announced today a “Small Business Cashflow Loan Scheme”.  IRD will provide interest free loans of up to $100,000 to small businesses (employing 50 or fewer full-time equivalent employees) impacted by COVID-19.  Loans will e interest-free if they are paid back within a year.  After that the interest rate will be 3% for a maximum term of five years with no repayment required in the first two years. 

Applications open on 12th of May. 

More information to follow.