Government Coronavirus SME Guarantee Scheme

13 July 2019

The Coronavirus SME Guarantee Scheme is a special program set up by the Australian Government – The Treasury to help a small and medium-sized business to get access to credit and reduce the impact of Coronavirus.

Get up to $250,000 small business loan to be back on track

In this unprecedented COVID-19 situation, every business in Australia has been affected in many ways.

Sure Capital through one of its finance partners can help your business to get a lump sum up to $250,000. For up to 24 months and with no repayments for the first 6 months, the Government’s Coronavirus SME Guarantee Scheme can support your temporary cash flow needs. Talk to us, and we can arrange a pre-approval with one of our lenders.

Contact us to tell us your story, and as a finance broker, we may be able to assist you.

Main advantages of a small business loan under the SME Guarantee Scheme:

  • Loan amount: from $5,000to $250,000
  • Loan application: easy process and quick decision
  • Loan timeframe: funding within 24 hours
  • Loan terms: up to 24 months
  • Loan repayments: none for the first 6 months
  • Loan fees payable: none for the first 6 months
  • Asset security: not required
  • Early repayment options: available, just ask us

Not sure if you are eligible for a small business loan under the SME Guarantee Scheme?

When applying for a loan under the Government’s Coronavirus SME Guarantee Scheme, the below-mentioned eligibility criteria must be met:

  • Annual turnover: maximum $50 million
  • Valid ABN registered and operating in Australia
  • Loan purpose: not personal, only business-related (see the list above)
  • Supporting cash flow needs (current or upcoming)
  • Limitation: funding not to be used to refinance an existing loan
  • Total sum: not exceeding $250,000

At Sure Capital, we help existing and new clients looking for a small business loan. We are committed to giving the best business finance service, and we operate as a trustworthy finance broker that connect small and medium businesses with suitable lenders who easily and quickly provide credit. As a finance broker, we can assist you to connect with most of the approved 41 lenders that officially participate in the Coronavirus SME Guarantee Scheme. The Scheme applies to the new loan and will be accessible until 30 September 2020.

The Scheme will enhance lenders’ willingness and ability to provide credit, supporting many otherwise viable SMEs to access vital additional funding to get through the impact of Coronavirus.

The following lenders have been approved to participate in the Scheme:

  • ANZ
  • Australian Mutual Bank Limited
  • Banjo
  • Bank Australia
  • Bank of Queensland
  • Bank of us
  • Bendigo and Adelaide Bank Ltd
  • Commonwealth Bank of Australia
  • Community First Credit Union
  • First Choice Credit Union
  • Get Capital
  • Goulburn Murray Credit Union
  • Heritage Bank Limited
  • Hume Bank Limited
  • Illawarra Credit Union
  • IMB Bank
  • Judo Bank Pty Ltd
  • Laboratories Credit Union
  • Liberty Financial
  • Lumi
  • Macquarie Bank
  • Moula Money
  • MyState Bank Limited
  • National Australia Bank Limited
  • On Deck Capital
  • Police Credit Union
  • Prospa
  • Queensland Country Bank Limited
  • Regional Australia Bank Ltd
  • South West Credit Union
  • Southern Cross Credit Union
  • Speedy Finance
  • Spotcap
  • Summerland Credit Union
  • Suncorp
  • The Capricornian Ltd
  • The Mutual Bank
  • Tyro Payments Limited
  • Unity Bank
  • WAW Credit Union
  • Westpac