Small business cashflow loan scheme

Written By Emily Wong

The re-elected Government has announced on 9 November a 3-year extension to the Small Business Cashflow Loan. This gives small businesses a better window to both borrow, and repay the loan, and increases the interest free period. A summary as follows:

  • Interest free period is extended from one to two years

  • The terms of use of the loan has been broadened and now includes capital expenditure

  • Applications can now be made until 31 December 2023

This is good news for those of our clients who have been affected by Covid-19 restrictions. These terms will be extended to those who have already received the loan.

Emily Wong http://conceptandcode.nz
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