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Government SME Recovery Loan Scheme

To help our business customers access capital as the economy recovers, ANZ is pleased to be providing further long-term funding support to help you get through the ups and downs.

Talk to us about this scheme

What’s the Government SME Recovery Loan Scheme?

The Government SME Recovery Loan Scheme is designed to support the recovery of small to medium enterprises (SME) affected by the Coronavirus Pandemic (COVID-19) or the recent March 2021 floods.

It’s available to businesses with an ABN and with an annual turnover of less than $250m who accessed JobKeeper payments between 4 January - 28 March 2021.

It is also available to businesses that have been impacted by the recent March 2021 floods.

Read about the Government SME Recovery Loan Scheme.

 

What’s available to eligible customers under the Scheme?

A variable-rate ANZ Business Loandisclaimer, with payments deferred for 12 months. Following this initial period, a further deferral period of 12 months may be available. Borrow up to $5 million.

 

Features and benefits

  • Variable rate loandisclaimer
  • Borrow up to $5 million
  • Loan terms of up to 10 years
  • Ability to make additional unscheduled repayments at any time
  • Secured or unsecured loan optionsdisclaimer available (excluding residential property)
  • No loan approval fee and no account fees
  • Payments deferred for 12 months. Following this initial period, a further deferral period of 12 months may be availabledisclaimer
  • Where eligible, capacity to refinance existing loans (including government guaranteed loans).

 

Eligibility criteria

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

In order to be eligible:

  • Your business must have an ABN.

For businesses impacted by the Coronavirus pandemic:

  • Your business must have an annual turnover of less than $250 million (2019-20 income year) and/or is likely to be less than $250 million (2020-21 income year) and/or is likely to be less than $250 million (2021-22 income year); and
  • Your business must have received eligible JobKeeper payments at any stage during 4 January and 28 March 2021.

For businesses impacted by the recent floods:

  • Your business must have been adversely economically impacted by the recent floods; and
  • Your business must be located in or operate in a flood-affected local government area.

For all businesses:

  • You are applying for new or refinanced lending under the Scheme, including those from the SME Guarantee Scheme
  • Lending cannot be used: to purchase residential property or a financial product; or for the provision of loans to an 'associated entity'
  • 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

For more information and eligibility details, visit Government SME Recovery Loan Scheme FAQs.

 

For customers not receiving JobKeeper payments between 4 January - 28 March 2021, Phase 2 of the existing Australian Government SME Guarantee Scheme remains open to eligible borrowers until 30 June 2021.

How to apply

Let us call you

Leave your details and our specialist business banker will call you to discuss your business needs.

Request a call back

Call us straight away

Mon-Fri 8.30am to 8pm (AEST)

 

1800 861 228

 

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 started 1 October 2020. Under the Scheme for Phase 2, the Government guarantees 50 per percent of new loans issued by eligible lenders to SMEs. Applications under Phase 2 of the scheme must be unconditionally approved by 30 June 2021.

The Government SME Recovery Scheme is an extension of the Government’s SME Guarantee Scheme. It commences 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’s SME Recovery Loan Scheme criteria.

In order to be eligible:

  • Your business must have an ABN.

For businesses impacted by the Coronavirus pandemic:

  • Your business must have an annual turnover of less than $250 million (2019-20 income year) and/or is likely to be less than $250 million (2020-21 income year) and/or is likely to be less than $250 million (2021-22 income year); and
  • Your business must have received eligible JobKeeper payments at any stage during 4 January and 28 March 2021.

For businesses impacted by the recent floods:

  • Your business must have been adversely economically impacted by the recent floods; and
  • Your business must be located in or operate in a flood-affected local government area.

For all businesses:

  • You are applying for new or refinanced lending under the Scheme, including those from the SME Guarantee Scheme
  • Lending cannot be used: to purchase residential property or a financial product; or for the provision of loans to an 'associated entity'??
  • 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

Find out more: Government SME Guarantee Scheme.

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 rate on Variable Rate Loans is subject to change throughout the term of the Loan.

All lending provided by ANZ under the Australian Government SME Guarantee 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 Guarantee Scheme.  

Rates may vary based on ANZ’s credit criteria or your financial circumstances.

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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 Guarantee Scheme. 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).

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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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