SME Recovery Loan Scheme

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The Government’s SME Recovery Loan Scheme (the Scheme) was designed to support the economic recovery and provide continued assistance to SMEs dealing with the economic impacts of the coronavirus crisis. The Scheme enhanced lenders’ ability to provide cheaper credit to otherwise viable SMEs for additional funding to get through the Coronavirus crisis, recover and invest for the future.

The SME Loan Guarantee Schemes commenced in March 2020 and closed for new loans on 30 June 2022. During this period the Scheme has supported more than 103,000 loans to SMEs worth around $14.8 billion.

If you are a lender wanting to make a claim, please refer to the Lender Guide [PDF 211KB].

If you are small business experiencing hardship and require assistance you can always contact the Small Business Debt Helpline, a dedicated small business financial counselling service. It provides free, independent, confidential and impartial phone-based support to small business owners nationally regardless of the cause of their financial hardship.

Small business financial counsellors can help small business owners with understanding business and personal debts and their implications, grants that they may be able to access, disaster relief and options for payment arrangements as well as providing a range of other supports.

Further information is available on the Small Business Debt Helpline website at https://sbdh.org.au/. Small business owners can access the service by calling 1800 413 828 (between 9:00am to 5:30pm AEST, Monday to Friday).

Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020

Legislative Rules

Treasurer’s Delegation [PDF 1.73MB]

Scheme Rules - Amended Scheme Rules came into effect (in conjunction with the Scheme Guarantee Amending Deed) on 1 October 2021 – further amended Scheme Rules [PDF 1.6MB | DOCX 164KB] came into effect (in conjunction with the Scheme Guarantee Amending Deed) on 1 January 2022.

Deed of Guarantee - the Scheme Guarantee Amending Deed came into effect (in conjunction with the amended Scheme Rules) on 1 October 2021 – further Scheme Guarantee Amending Deed came into effect (in conjunction with the further amended Scheme Rules) on 1 January 2022.

SME Recovery Loan Scheme - Reporting Standard

ARS 920.6: Financial Sector (collection of data) (reporting standard) determination No. 42 of 2021

ARS 920.8 Australian Government Small and Medium Enterprise (SME) Recovery Loan Scheme – Flood

ARS 920.10 Australian Government Small and Medium Enterprise (SME) Recovery Loan Scheme

SME Recovery Loan Scheme - Lender Guide [PDF 210 KB]

Eligible SMEs with operations in areas impacted by the floods in March 2021 may apply for a loan under the SME Recovery Loan Scheme until 31 December 2021.

The following is a list of eligible Local Government Areas (LGAs) impacted by the floods as declared per the Australian Disaster Recovery Payment as at 31 March 2021: 

Armidale
Ballina
Bathurst
Bega Valley
Bellingen
Blacktown
Blue Mountains
Brewarrina
Byron
Cabonne
Camden
Campbelltown
Canterbury Bankstown
Central Coast
Cessnock
Clarence Valley
Cobar
Coffs Harbour
Cumberland
Dungog
Eurobodalla
Fairfield
Gilgandra
Glen Innes Severn
Gunnedah
Gwydir
Hawkesbury
Hornsby
Inner West
Inverell
Kempsey
Ku-ring-gai
Kyogle
Lachlan
Lake Macquarie
Lismore
Lithgow
Liverpool
Liverpool Plains
Maitland
Mid-Coast
Moree Plains
Narrabri
Nambucca Valley
Newcastle
Northern Beaches
Parramatta
Penrith
Port Macquarie-Hastings
Port Stephens
Oberon
Orange
Queanbeyan-Palerang
Richmond Valley
Shoalhaven
Singleton
Sutherland
Tenterfield
The Hills
Tweed
Walcha
Walgett
Wingecarribee
Wollondilly

The Government is currently considering applications from lenders interested in participating in the SME Recovery Loan Scheme.

The following lenders have been approved to participate in the SME Recovery Loan Scheme.

  • ANZ
  • Bank of Queensland
  • Commonwealth Bank of Australia
    • Bankwest
  • Earlypay
  • Fifo Capital Australia
  • Judo Bank
  • Liberty Finance
  • Marketlend
  • Moneytech Finance
  • National Australia Bank
  • Regional Australia Bank
  • Shift (formerly Get Capital)
  • Social Enterprise Finance Australia
  • Suncorp-Metway
  • The Mutual Bank
  • TrailBlazer Finance
  • Unity Bank
  • Westpac
    • BankSA
    • Bank of Melbourne
    • St George