Businesses respond coolly to the coronavirus SME guarantee scheme

By Ann Wen · 4 September 2020 · Featured

Businesses respond coolly to the coronavirus SME guarantee scheme

SMEs left in the cold: A shocking response to the government's $40 billion guarantee scheme

Despite a massive $40 billion promise, less than 5% of business owners have taken up the Coronavirus SME guarantee scheme. What's behind the lukewarm response, and what does it mean for the future of small businesses?

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Summary

Less than 5 per cent of the Federal Government’s $40 billion Coronavirus SME guarantee scheme has been taken up by business owners. On 22 March, the Government announced the Coronavirus SME Guarantee Scheme (the Scheme). Under the Scheme, the Government guarantees 50 per cent of loans issued by eligible lenders to SMEs. Loans can be […]