The Government’s SME Guarantee Scheme is designed to support the flow of funds to Australian businesses during a time of unprecedented uncertainty. Under the Scheme, the Government guarantees 50 per percent of new loans issued by eligible lenders to SMEs. 

• Phase 1 of the Scheme closed on 30 September 2020.
• Phase 2 of the Scheme started 1 October 2020
• Applications under Phase 2 of the scheme must be unconditionally approved by 30 June 2021.

Find out more: Government SME Guarantee Scheme site

ANZ’s Government Guarantee Scheme Lending is open to new and existing customers.

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

Customers taking out ANZ Government Scheme lending are required, under the Scheme, to sign a Declaration to confirm their eligibility.

• Your business must have an ABN.
• Your business must have an annual turnover of less than $50m (2019-20 income year) and/or is likely to be less than $50 million (2020‑21 income year).
• You are applying for new lending for business purposes. Refinance is only allowed for the re-finance of existing lending under Phase 1 of the Government’s SME Guarantee Scheme.
• Lending cannot be used to: purchase residential property or a financial product; to lease, rent, hire or hire purchase existing assets that are more than half way into their effective life; or for the provision of loans to an ‘associated entity’.
• Lending is capped at $1 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 Scheme lending.
• All lending must be unconditionally approved with signed contracts returned to ANZ by 30 June 2021.

Find out more: Government’s SME Guarantee Scheme site.  

Yes, you may be eligible to borrow funds under Phase 2 of the Australian Government SME Guarantee Scheme.

You may be eligible to apply for multiple products that qualify under the Australian Government SME Guarantee Scheme, subject to the maximum total borrowing amount for all loans (including those from other participating lenders in the Scheme) of $1million per ABN.

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

• ANZ Business Loan approval fee and loan administration charge (“loan account fee”)
• ANZ Vehicle & Equipment establishment fee

Normal bank transaction account fees apply.

Eligible customers who have already accessed support through the ANZ COVID-19 Support Package can apply for new borrowing that qualifies under Phase 2 of the Government SME Guarantee Scheme.

Find out more: Government’s SME Guarantee Scheme site.

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

All lending provided by ANZ under the Government SME Guarantee Scheme is subject to ANZ's normal credit approval criteria.

For a secured loan, you’ll need to provide suitable security acceptable to ANZ, meeting ANZ’s requirements, including minimum security coverage and security location. 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).