Business
Australia’s banks welcome the expansion of the coronavirus loan scheme – NEWS.com.au
Australia’s banks welcome the expansion of the coronavirus loan scheme
The federal government has extended its coronavirus loan scheme, with major changes set to assist businesses still financially wounded from the pandemic. Treasury announced on Thursday the third phase of the coronavirus SME Guarantee Scheme, which will provide longer-term loans to firms that are yet to rebound from the economic downturn.
The new loans of up to $5m have a repayment period of up to 10 years, and the federal government will guarantee 80 per cent of the loan instead of the bank.
Government…
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