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How will the Scheme help Australian businesses?
- Under the scheme, businesses can apply for new loans up to $250,000 up to three years and the Government will secure 50 per cent. This means lenders are able to service more businesses in these challenging times.
- There is an initial 6-month repayment relief period, with interest to be capitalised. This will support businesses with their cash flow.
- Loans under the scheme are unsecured meaning businesses do not need to provide an asset, such as the family home, in order to be approved.
Who is eligible for the SME Guarantee?
The Guarantee will be available to:
- Australian SMEs, including sole traders, with a turnover of up to $50 million.
- Subject to Zip Business minimum criteria (18 months in business, minimum $200k turnover, Australian business and business bank account).
- Also subject to Zip Business underwriting criteria.
Brokers, Accountants, Partners.
Register your interest for Zip Business COVID-19 SME Guarantee Loan on behalf of your clients here:
Register your interest for Zip Business COVID-19 SME Guarantee Loan for your business here:
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