Business
Bank bosses welcome revamped business loan scheme – Sydney Morning Herald
The big four banks have given the thumbs up to the government’s scheme offering cheap loans to small and medium-sized businesses.
The big four bank chiefs have welcomed the federal governments revamped small business loan scheme, claiming it will provide a lifeline to the hardest-hit industries once JobKeeper payments are cut off.
The government significantly expanded its loan scheme for small-to-medium sized businesses on Thursday, increasing the size of eligible loans from $1 million to $5 million and raising the turnover threshold from $50 million to $250 million.
The loans are available to around 350,000 businesses and…
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