To help more SMEs overcome the hardships created by the Covid-19 lockdowns and floods, the Federal Government of Australia has introduced some changes and expanded the eligibility criteria of its SME Recovery Loan Scheme. It will ensure more SMEs are now eligible to access cheaper credits and additional funding of up to $5 million until December 31, 2021.
For instance, the expanded federal scheme will allow SMEs with a turnover of less than $250 million to get loans of up to $5 million more easily. And it won’t insist that SMEs should have received JobKeeper payments earlier in the year.
