Business
Interest-free COVID loans for SMEs – The Australian Financial Review
The loans will be targeted at small and medium enterprises that are operating in challenged industries, such as hospitality and international tourism, as they’re…
Firms will need to show a profitable track record pre-COVID-19, to qualify, among other eligibility criteria.
There is likely to be some debt forgiveness for SMEs that dont survive, though Treasury has developed integrity measures to limit unscrupulous operators taking advantage of the subsidy.
The exact details of the scheme are expected to be unveiled by the government in the next few days.
To avoid crowding out profitable bank lending that would otherwise have occurred without the government…
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