The government has announced that they have broadened the eligibility criteria for businesses to access the SME Recovery Loan Scheme. Businesses with a turnover of up to $250m could be eligible.

Participating lenders are offering loans 80% guaranteed by the government, potential for repayment holidays up to 24 months, loan terms up to 10 years, up to $5m in total, various security options and interest rate caps. Loans can be used for a broad range of business purposes.

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