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Government SME Recovery Loan Scheme

We’re here to help you get through the ups and downs of business, with easy access to new business lending under the Government SME Recovery Loan Scheme.

The Scheme is designed to support the recovery of small to medium enterprises (SMEs) that continue to deal with the economic impacts of COVID-19.

It’s available to businesses with an ABN and with an annual turnover of less than $250 million.

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ANZ's support and the Government SME Recovery Loan Scheme

What's available to eligible customers under the Scheme?

A variable-rate ANZ Business Loan, where payment deferrals for 12 months are available (following this initial period, a further deferral period of 12 months may also be availabledisclaimer). Borrow up to $5 milliondisclaimer.

For more details on the Government SME Recovery Loan Scheme visit the Treasury website.

 

Unsecured ANZ Business Loan

Interest rate

From disclaimer

You won’t need to provide an asset as security, although a personal guarantee may be required (for example, from company directors).

 

Secured ANZ Business Loan

Interest rate

From disclaimer

You'll need to provide a suitable asset as security that meets ANZ requirements and Scheme Rulesdisclaimer.

 

Benefits

  • Variable rate loan
  • Borrow up to $5 million
  • Loan terms of up to 10 years
  • Secured or unsecured loan options available (excluding residential property)
  • No loan approval fee and no loan account fees
  • Payment deferrals for up to 12 months are available (following this initial period, a further deferral period or 12 months may also be available)disclaimer
  • Where eligible, capacity to refinance existing loans (including government guaranteed loans).

Terms and conditions, and eligibility criteria apply.

 

Government SME Recovery Loan Scheme criteria

Who can apply

To apply, please ensure that your business and lending needs meet the Government SME Recovery Loan Scheme criteria.

In order to be eligible, your business must have:

  • an ABN; and
  • an annual turnover of less than $250 million (2019-2020) or is likely to be less than $250 million (2020-21 or 2021-22 income year); and
  • been adversely economically impacted by COVID-19.

For further details on the Scheme eligibility criteria, visit the Treasury website.

 

What can you apply for?

Under the Government SME Recovery Loan Scheme, you can apply for new lending or refinance existing lending (including any Phase 1 and Phase 2 Scheme lending).

Scheme lending cannot be used to purchase residential property or a financial product, or for the provision of loans to an associated entity, or to lease, hire or hire purchase an existing asset that is more than half way into its effective life.

Lending is capped at $5 million in aggregate per ABN. This incorporates all lending that qualifies under the Scheme taken out by the ABN from any provider, excluding any Phase 1 and Phase 2 Scheme lending.

All lending contracts under the Scheme must be entered into by 31 December 2021.

Other lending supported by the Government SME Recovery Loan Scheme

 

ANZ GoBiz

Get conditional approval in 20 minutes (where eligible) for an unsecured ANZ Business Loan under the Scheme. 

Variable interest rate

From disclaimer

  • Loans up to $200,000
  • Unsecured lending
  • If approved, funds in your account in two business daysdisclaimer
  • If you don't have a linked ANZ business transaction account, we'll open a low-cost transaction account for you for only $10 per month
  • Applicants for ANZ GoBiz need to meet elgibility and credit criteria

Explore ANZ GoBiz

ANZ Vehicle Financedisclaimer

Get a low interest rate under the Scheme (where eligible) for new and demo cars, vans and utes. 

Fixed interest rate

From *

*When applying directly to ANZdisclaimer

  • Borrow up to $5 milliondisclaimer
  • No establishment fee
  • Loan term of up to 5 years
  • Financed assets will be used as securitydisclaimer
  • Tailor repayments to suit your cash flow

Request a call back

Interest rates for other vehicle and equipment types will be calculated on request.

How to apply

Let us call you

Leave your details and one of our specialist business bankers will call you to discuss your business needs.

Request a call back

Call us

Contact the Government SME Recovery Loan Scheme team Mon-Fri 8am to 8pm (AEST)

1800 861 228

Related article

How businesses are benefitting from the Government SME Guarantee Schemes

4-minute read

The global pandemic has had a huge impact on Australian businesses.

The Australian Government’s SME guarantee schemes have helped many of them make it through a challenging time.

Keep reading

Questions? Here's the nitty gritty.

The Government first developed what is known as the SME Guarantee Scheme. It was designed to support the flow of funds to Australian businesses during a time of unprecedented uncertainty. There were two phases of that scheme.

  • Phase 1 of the Scheme closed on 30 September 2020.
  • Phase 2 of the Scheme closed on 30 June 2021.

The Government SME Recovery Scheme is an extension of the Government’s SME Guarantee Scheme. It commenced 1 April 2021. Under the Government SME Recovery Scheme, the Government guarantees 80 per cent of new loans issued by eligible lenders to SMEs. You must meet the eligibility criteria.

All lending contracts under the Scheme must be entered into by 31 December 2021.

Find out more: Government SME Guarantee Scheme site

To apply, please ensure that your business and lending needs meet the Government SME Recovery Loan Scheme criteria.

In order to be eligible, your business must have:

  • an ABN; and
  • an annual turnover of less than $250 million (2019-2020) or is likely to be less than $250 million (2020-21 0r 2021-22 income year); and
  • been adversely economically impacted by COVID-19.

For further details on the Scheme eligibility criteria, visit the Treasury website.

Yes, you may be eligible to borrow funds under the Government SME Recovery Loan Scheme. To qualify, you must meet the eligibility criteria.

You may be eligible to apply for multiple products that qualify under the Government SME Recovery Loan Scheme, subject to the maximum total borrowing amount for all loans (including those from other participating lenders in the Scheme) of $5 million per ABN.

For all eligible ANZ business lending that qualifies for the Government SME Recovery Loan Scheme, the following standard fees have been waived:

  • ANZ Business Loan Approval Fee
  • Loan Administration Charge

Other fees may apply.

The maximum total borrowing amount for all loans that qualify under the Government SME Recovery Loan Scheme (including those from other participating lenders in the Scheme) is $5 million per eligible ABN. This excludes lending taken out under Phase 1 or Phase 2 of the Government SME Guarantee Scheme.

For a secured loan, you’ll need to provide suitable security acceptable to ANZ. Residential property cannot be used as security under the Scheme.

With an unsecured loan, you won’t need to provide an asset as security, although a personal guarantee may be required (for example from company directors).

Yes, all loans under the Government SME Recovery Loan Scheme can have payments deferred for a 12 month period, with interest capitalised. Interest capitalisation is the addition of unpaid interest to the outstanding loan balance. The outstanding loan balance increases when payments are postponed during periods of deferment and unpaid interest is capitalised.

Yes, you may be eligible to refinance an existing loan under the Government SME Recovery Loan Scheme. This excludes refinancing out of a residential backed facility.

The Interest rates are current as at 15 October 2021 and are subject to change. 

Interest rates on variable-rate loans are subject to change throughout the term of the loan. 

For an unsecured loan you won’t need to provide an asset as security, although a personal guarantee may be required (for example from company directors).

All lending provided by ANZ under the Government SME Recovery Loan Scheme is subject to ANZ's normal credit approval criteria. Terms and conditions and Fees and charges apply.  For information and eligibility rules please visit Government SME Recovery Loan Scheme.  

Repayment deferral of 12 months is available on term loans, with interest capitalised. Interest capitalisation is the addition of unpaid interest to the outstanding loan balance. The outstanding loan balance increases when payments are postponed during periods of deferment and unpaid interest is capitalised.

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The maximum total borrowing amount for all loans under the Government SME Recovery Loan Scheme (including those from other participating lenders in the Scheme) is $5 million per ABN in addition to any Phase 1 and Phase 2 Scheme lending.

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Interest rates may vary based on ANZ’s credit criteria or your financial circumstances. For unsecured loans, interest rates may be higher for loans with a deferred payment period.

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For a secured loan, you’ll need to provide security acceptable to ANZ, meeting ANZ’s requirements, including minimum security coverage and suitable location. Residential property can’t be used as security under the Government SME Recovery Loan Scheme. 

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The Chattel Mortgage is the only asset finance product available.

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Interest rates may vary based on eligibility and credit criteria including loan purpose and purchase of a vehicle acceptable to ANZ.  Advertised interest rates are only available when applications for asset finance are submitted directly to ANZ and not via a broker.

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Some used assets may be ineligible under the Australian Government SME Recovery Loan Scheme.

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Interest rates may be higher for loans with a deferred payment period.

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Once approved, you'll need to sign and return your documents. Once we receive these, your funds will be in your business account within 2 business days.

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