Are you wondering about applying for Cashflow Support for Small Business? We’ve gathered the main links for information for what you need to know.

Here is the information from the Government website:

Cash flow support for small businesses

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:

  • $10,000 to be provided to every business
  • an additional $1800 per equivalent full-time employee
  • interest free if the loans are paid back within a year
  • an interest rate of 3% for a maximum term of five years
  • repayments not required for the first two years.

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:

Here

And here is the information from the Covid-19 website:

Small Business Cashflow Loan Support

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:

Here

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