Federal Treasury has announced that its successful SMERL3 SME recovery loans are to be modified and expended beyond the end of this year to a new closing date of June 30-, 2022.
SMERL 3 was guaranteeing the banks 80 per cent of their risk, with the banks opening the purse strings in response.
Now Canberra has announced the scheme will be extended to next year, but with a lesser government guarantee of a still generous 50 per cent – and @AuManufacturing’s value-added services partners can help you access these SMERL3 loans.
SMERL3 allows for SME’s to borrow any amount up to $5 million over a period of up to 10 years for any worthwhile purpose within the business such as:
1. Refinance existing Debt
2. Repay ATO Debt
3. Repay directors loans
4. Acquire assets (P&E or commercial property)
5. Working Capital.
It cannot be used to on lend monies within the Corporate Structure and it cannot be used for the Purchase of Residential Property.
If you wish to contact our value-added services partners please contact editor, Peter Roberts directly on 0419 140679 or [email protected]
More information on our value-added services partners can be found here.
Picture: Josh Frydenberg and Scott Morrison
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