Here is the information from the Government website:
Government has announced it will provide loans to small businesses impacted by COVID-19 to support their cash flow needs. The Small business cash flow loan scheme will provide assistance of up to $100,000 to businesses employing 50 or fewer full-time equivalent employees.
Details of the loans include:
The full announcement can be found on the Beehive website.
Government boosts cash flow support for small businesses (external link) – Beehive.govt.nz
Inland Revenue will have more information available next week.
COVID-19 Small business cash flow scheme (SBCS) (external link) – Inland Revenue
Visit the business.govt.nz:
And here is the information from the Covid-19 website:
Inland Revenue will provide interest-free loans for a year to small businesses impacted by the COVID-10 economic shock.
The Small Busines Cashflow Loan Scheme will provide assistance of up to $100,000 to firms, employing 50 or fewer full-time equivalent employees.
Loans will be interest-free if they are paid back within a year. The interest rate will be 3% for a maximum term of five years. Repayments are not required for the first two years.
Applications will be open on 12 May and be managed by Inland Revenue.
Find the Covid-19 Financial Support Tool: