Business
Bank bosses back bigger loans, cheap airfares – The Australian Financial Review
CEOs from the big four have thrown their support behind the revitalised SME loan scheme that will provide loans to struggling businesses.
Under the terms of the scheme, businesses who relied on JobKeeper payments during the March quarter will be eligible for the loans, which has been rebranded the SME Recovery Loan Scheme.
The third iteration of the loan program that was originally named the Coronavirus SME Guarantee, or the SMEG, will see loan sizes raised from $250,000 to $5 million, see terms extended from three years to as much as 10 years and raise the turnover cap for eligible businesses from $50 million to $250 million.
Critically,…
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