SME Recovery Loan Scheme closed for loans on 30 June 2022
The SME Recovery Loan Scheme offered the following:
- loans on an unsecured or secured basis (excluding residential property)
- a maximum loan size of $5 million and a maximum loan term of up to 10 years
- allowed for a repayment holiday of up to 24 months
- permitted refinancing existing loans
- interest rates were capped at 7.5 per cent, with some flexibility for interest rates on variable rate loans to increase if market interest rates increased.
Under the Scheme, the Government provided the following loan guarantees:
- 80 per cent for loans written from 1 April – 31 December 2021
- 50 per cent for loans written from 1 January – 30 June 2022.
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
SME Recovery Loan Scheme - Lender Guide [PDF 210 KB]
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:
Glen Innes Severn
The following lenders participated in the SME Recovery Loan Scheme.
- Bank of Queensland
- Commonwealth Bank of Australia
- Fifo Capital Australia
- Judo Bank
- Liberty Finance
- Moneytech Finance
- National Australia Bank
- Regional Australia Bank
- Shift (formerly Get Capital)
- Social Enterprise Finance Australia
- The Mutual Bank
- TrailBlazer Finance
- Unity Bank
- Bank of Melbourne
- St George