The Coronavirus SME Guarantee Scheme is special program set up by the Australian Government – The Treasury to help small and medium sized business to get access to credit and reduce the impact of Coronavirus.

As finance broker we can assist you to connect with most of the approved 41 lenders that officially participate in the Coronavirus SME Guarantee Scheme. The Scheme applies to new load and will be accessible until 30 September 2020.

CONTACT US TO GET MORE INFO ABOUT YOUR ELIGIBILITY.

  • Funds available: up to $40 billion of lending to SMEs
  • Type of companies: Small and Medium sized company including sole traders and not-for-profits.
  • Maximum total size of loans: $250,000 per borrower.
  • Loan duration: up to three years, with an initial six month repayment holiday.
  • Unsecured finance: meaning that borrowers will not have to provide an asset as security for the loan.

The Scheme will enhance lenders’ willingness and ability to provide credit, supporting many otherwise viable SMEs to access vital additional funding to get through the impact of Coronavirus.

The following lenders have been approved to participate in the Scheme:

  • ANZ
  • Australian Mutual Bank Limited
  • Banjo
  • Bank Australia
  • Bank of Queensland
  • Bank of us
  • Bendigo and Adelaide Bank Ltd
  • Commonwealth Bank of Australia
  • Community First Credit Union
  • First Choice Credit Union
  • Get Capital
  • Goulburn Murray Credit Union
  • Heritage Bank Limited
  • Hume Bank Limited
  • Illawarra Credit Union
  • IMB Bank
  • Judo Bank Pty Ltd
  • Laboratories Credit Union
  • Liberty Financial
  • Lumi
  • Macquarie Bank
  • Moula Money
  • MyState Bank Limited
  • National Australia Bank Limited
  • On Deck Capital
  • Police Credit Union
  • Prospa
  • Queensland Country Bank Limited
  • Regional Australia Bank Ltd
  • South West Credit Union
  • Southern Cross Credit Union
  • Speedy Finance
  • Spotcap
  • Summerland Credit Union
  • Suncorp
  • The Capricornian Ltd
  • The Mutual Bank
  • Tyro Payments Limited
  • Unity Bank
  • WAW Credit Union
  • Westpac

(source: https://treasury.gov.au/coronavirus/sme-guarantee-scheme/lenders and https://treasury.gov.au/coronavirus/sme-guarantee-scheme)

CONTACT US TO GET MORE INFO ABOUT YOUR ELIGIBILITY.

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