{"id":266836,"date":"2020-07-24T12:42:52","date_gmt":"2020-07-24T02:42:52","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=266836"},"modified":"2020-07-24T12:42:52","modified_gmt":"2020-07-24T02:42:52","slug":"business-loan-scheme-extended","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2020\/07\/24\/business-loan-scheme-extended\/","title":{"rendered":"Business Loan Scheme Extended"},"content":{"rendered":"
\"\"<\/a>
Member for Wide Bay Llew O’Brien<\/figcaption><\/figure>\n

July 24, 2020<\/strong><\/p>\n

The Federal Government has extended a loan scheme to help small and medium-sized business recover from COVID-19 crisis.<\/p>\n

Federal Member for Wide Bay Llew O\u2019Brien said the Coronavirus SME Guarantee Scheme had already helped more than 15,600 businesses across Australia with loans worth a total of $1.5 billion.<\/p>\n

\u201cTo help businesses move into a COVID-safe economy, we\u2019re now extending the purpose of loans for a wider range of investment, increasing the maximum loan size from $250,000 to $1 million per borrower and increasing the maximum loan term from three years to five years,” Mr O’Brien said.<\/p>\n

\u201cThe next phase of the Coronavirus SME Guarantee Scheme will help businesses move out of hibernation, rebuild, adapt and create jobs on the other side of the coronavirus crisis.\u201d<\/p>\n

Under Phase 1 of the scheme, the government has been providing support in partnership with 44 approved lenders by guaranteeing 50 per cent of new unsecured loans to SMEs.<\/p>\n

Key changes under Phase 2 include:<\/p>\n

    \n
  • Extending the purpose of loans able to be provided beyond working capital, such that a wider range of investment can be funded;<\/li>\n<\/ul>\n
      \n
    • Permitting secured lending (excluding commercial or residential property);<\/li>\n<\/ul>\n
        \n
      • Increasing the maximum loan size to $1 million (from $250,000) per borrower;<\/li>\n<\/ul>\n
          \n
        • Increasing the maximum loan term to five years (from three years); and<\/li>\n<\/ul>\n
            \n
          • Allowing lenders the discretion to offer a repayment holiday period.<\/li>\n<\/ul>\n

            Phase 1 will run until September 30; Phase 2 will start on October 1 and will be available until June 30, 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

            The Federal Government has extended a loan scheme to help small and medium-sized business recover from COVID-19 crisis.<\/p>\n","protected":false},"author":20,"featured_media":259296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3],"tags":[],"yoast_head":"\nBusiness Loan Scheme Extended - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"The Federal Government has extended a loan scheme to help small and medium-sized business recover from COVID-19 crisis.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2020\/07\/24\/business-loan-scheme-extended\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Loan Scheme Extended - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"The Federal Government has extended a loan scheme to help small and medium-sized business recover from COVID-19 crisis.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2020\/07\/24\/business-loan-scheme-extended\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-24T02:42:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2020\/06\/llew-obrien-f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2020\/07\/24\/business-loan-scheme-extended\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2020\/07\/24\/business-loan-scheme-extended\/\",\"name\":\"Business Loan Scheme Extended - 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