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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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.Return
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.Return
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.Return
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.Return
The Chattel Mortgage is the only asset finance product available.Return
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.Return
Some used assets may be ineligible under the Australian Government SME Recovery Loan Scheme.Return
Interest rates may be higher for loans with a deferred payment period.Return
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.Return