Business
Tottering small businesses need more than another loan guarantee scheme – Sydney Morning Herald
The take-up of the government’s first SME loan guarantee scheme was woeful. Take two may not be much better.
And there has been a rush of larger businesses raising new equity to bolster balance sheets but this is a funding mechanism not available to most in the small business sector.
Instead, they have been given the option of deferring interest payments for three months or availing themselves of cheaper semi government guaranteed loans. Both of these require ultimate repayment.
This explains why the take up of the government’s first SME guarantee scheme was so woeful. It was a $40 billion scheme. Th…
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