Treasurer Josh Frydenberg says elevated assist is now accessible for small companies because the COVID loan scheme not requires companies to have been on JobKeeper through the March quarter.
“This loan scheme has already been very successful,” Mr Frydenberg advised Sky News Australia.
“More than 70,000 loans have been delivered, value greater than $6 billion.
“Now there had been a requirement that these recipients had been on JobKeeper through the March quarter – we’ve eliminated that requirement.
“Obviously they should have been impacted by COVID, however we’re offering as much as $5 million loans for as much as 10 years with the primary two years compensation free.
“Now that may be a resolution to enter into these loan agreements with the banks – assured by the federal government – that particular person companies will make.
“No doubt this money will help with working capital, it will help businesses expand.”