The SME Recovery Loan Scheme enables small and medium-sized enterprises (SMEs) to access funding to get through the impact of coronavirus, recover and invest for the future. The Australian Government works with lenders to:

  • enhance lenders’ ability to provide cheaper credit
  • ensure that eligible businesses have access to finance to maintain and grow their business.

This program provides small and medium-sized businesses with guaranteed loans to help their businesses recover from the impacts of the coronavirus crisis. Application closed in 15 days and the closing date is on 31 Dec 2021.

What do you get?

Loan of up to $5 million.

Who is this for?

Small and medium-sized businesses.

What are the eligibility criteria?

The scheme is open to SMEs with a turnover of up to $250 million that either:

  • received JobKeeper payments in the March quarter of 2021, or
  • were affected by the floods in eligible Local Government Areas (LGAs) in March 2021.

Self-employed individuals and non-profit businesses are eligible. Businesses that have accessed loans in Phase 1 and Phase 2 can also apply for loans under the scheme.

Upcoming changes to eligibility

On 25 August 2021, the Government announced that the current requirements to have received JobKeeper or be a flood-affected business will be removed. Once these changes become effective, the rules will be updated and loans will be available through participating lenders.

How do you apply?

You can apply for the loans through participating lenders. Find out more about eligibility, applying and participating lenders at SME Recovery Loan Scheme.

If you have any questions or concerns, feel free to send us a message via email [email protected] call us at 1300 844 678.