ADVERTISEMENT INATIONALS Ripional Ouatialia Barnaby Joyce MP Federal Member for Mew England Small business support extended in New England The Coalition Government is continuing to assist New England businesses as they move into the recovery phase of the COVID-19 crisis, with extension of the SME Guarantee Scheme. Under the existing Scheme, the Government is providing an unprecedented level of support to small and medium sized businesses (SMES) in partnership with 44 approved lenders by guaranteeing 50 per cent of new unsecured loans to SMES. More than 15,600 businesses have already accepted loans worth $1.5 billion. The next phase of the Coronavirus SME Guarantee Scheme will help New England businesses move out of hibernation, successfully adapt to the new COVID-safe economy and invest for the future. Key changes to the Scheme include: Extending the purpose of loans able to be provided beyond working capital; Permitting secured lending (excluding commercial or residential property); Increasing the maximum loan size to $1 million (from $250,000) per borrower; Increasing the maximum loan term to five years (from three years); and allowing lenders the discretion to offer a repayment holiday period. The expanded Scheme will shift from providing access to working capital and helping businesses stay afloat to now also enabling them to access more affordable and longer term credit so they can invest for their future. For more info visit: treasury.gov.au/coronavirus 454-456 Peel Street, Tamworth NSW 2340 (02) 6761 3080 @ barnaby.Joyce.mpeaph.gov.au O barnabyjoyce.com.au f Barnaby JoyceMP Authorised by BJoyce, 454-456 Peel Street, Tamworth NSW 2340. ADVERTISEMENT INATIONALS Ripional Ouatialia Barnaby Joyce MP Federal Member for Mew England Small business support extended in New England The Coalition Government is continuing to assist New England businesses as they move into the recovery phase of the COVID-19 crisis, with extension of the SME Guarantee Scheme. Under the existing Scheme, the Government is providing an unprecedented level of support to small and medium sized businesses (SMES) in partnership with 44 approved lenders by guaranteeing 50 per cent of new unsecured loans to SMES. More than 15,600 businesses have already accepted loans worth $1.5 billion. The next phase of the Coronavirus SME Guarantee Scheme will help New England businesses move out of hibernation, successfully adapt to the new COVID-safe economy and invest for the future. Key changes to the Scheme include: Extending the purpose of loans able to be provided beyond working capital; Permitting secured lending (excluding commercial or residential property); Increasing the maximum loan size to $1 million (from $250,000) per borrower; Increasing the maximum loan term to five years (from three years); and allowing lenders the discretion to offer a repayment holiday period. The expanded Scheme will shift from providing access to working capital and helping businesses stay afloat to now also enabling them to access more affordable and longer term credit so they can invest for their future. For more info visit: treasury.gov.au/coronavirus 454-456 Peel Street, Tamworth NSW 2340 (02) 6761 3080 @ barnaby.Joyce.mpeaph.gov.au O barnabyjoyce.com.au f Barnaby JoyceMP Authorised by BJoyce, 454-456 Peel Street, Tamworth NSW 2340.