Cash flow support for small business - Averil Maher
By Averil Maher
The government has announced a cash flow loan scheme available to small to medium sized businesses with up to 50 employees. This scheme comes after the government realised that banks were not offering the sort of support small businesses need at this time.
The intention is to support businesses immediate cash flow needs and meet fixed costs. This will be good news for businesses that are viable but have not been in a position to generate revenue during Level 4 and Level 3 lockdown.
Loans will be interest free if they are paid back within a year. The interest rate will be 3% for a maximum term of five years. The scheme also states the repayments are not required for the first two years. It appears that the eligibility criteria are the same as for the Wage Subsidy Scheme.
Go here for the details. https://www.beehive.govt.nz/release/government-boosts-cashflow-support-small-businesses
If you would like help and support for your business, please contact me for a free consultation.
Averil Maher firstname.lastname@example.org
Averil Maher Business Coach