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.