10 November 2020
Today the Government announced the following changes will be made to the Small Business Cashflow (Loan) Scheme:
In addition applications for the loan can now be made until 31 December 2023, an extension of three years.
These changes will be made by Inland Revenue unilaterally changing the terms and conditions of new and existing loan contracts. Inland Revenue don’t yet have a date when this will happen, but it will be by 31 December 2020, and they’ll keep you informed.
At this stage, all other aspects of the loan scheme remain in place, including:
The Government has asked for advice on some of these existing aspects of the loan scheme, so further changes may happen at a later stage.
For details of the loan conditions visit: www.ird.govt.nz/covid-19
Details about all our COVID-19 relief initiatives, including eligibility criteria and applying for the SBC loan, can be found at www.ird.govt.nz/covid-19