Govt tries again to get banks to lend businesses up to $6.25b

Thu, 20 Aug 2020

The government has announced more changes to its business finance guarantee scheme which it says will allow banks to lend more under the scheme. The scheme was introduced in the wake of the pandemic to assist businesses in coping with the crisis with the government guaranteeing banks will be repaid 80 percent of the funds advanced. To date, the scheme has been a bust with $150 million lent to 780 customers out of the $6.25 billion originally allocated. Scheme widens The government is no longer concentrating on just the small busines...

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