Labour promises to extend interest free loans, regulate card fees

Dan Brunskill
Tue, 08 Sep 2020

Dan Brunskill
Tue, 08 Sep 2020
The Labour Party will spend $1.5 billion to extend its small business cashflow scheme for three years and add a year to the interest free period, if it wins next month's election. The scheme provides zero interest loans of between $10,000 and $100,000 to viable small businesses employing fewer than 50 people and that were eligible for the first wage subsidy, spokesperson Stuart Nash said in a statement. Businesses would have five years to pay off the loan, with the first two interest free, and then attracting a 3 percent rate...

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