Eligible for the Small Business Cash Flow Loan Scheme?
With the arrival of Covid-19 and the subsequent lockdown of NZ, business in many cases have been badly affected. The Government has instigated a number of schemes and activities to help alleviate the financial pressure on small businesses. One such scheme is the COVID-19 Small Business Cash Flow (Loan) Scheme.
The Scheme is targeted at organisations and small to medium businesses, including sole traders and the self-employed who have been adversely affected by COVID-19. If you employ 50 or fewer full-time-equivalent staff, you may be eligible for a one-off loan of up to $10,000 plus $1,800 per full-time-equivalent employee.
Cash Flow Loan Scheme Fact Sheet
One of our backroom accounting support organisations has written a summary of the “ins and outs” of the loan scheme. Click here to access the COVID-19 small business cash flow loan fact sheet. The scheme has been amended via a Supplementary Order Paper (SOP). The SOP included amendments to ensure that the Loan Scheme worked as intended. To access these changes please click here.
Assistance with application (Applications closed on 24 July 2020)
If you would like to know more about the scheme, or other subsidy or loan options please give your small business accountant a phone call on 04 915 5966 for a free, exploratory chat.
We would be pleased to help you evaluate and apply for any relevant subsidy or loan options.
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