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Business loan scheme opens

Money Aust

Kickstarting the economy is the aim of the state government's new $60 million business loan scheme which opens today.

Businesses across the state will be able to borrow up to $3 million with low interest and up to $100,000 without needing an intensive security check.

State Growth Minister Michael Ferguson says it will drive opportunity and employment.

“This will help to support local job creation and business growth at a time Tasmania needs it the most,” he said.

“Loans of up to $100,000 may be provided without security, and will be subject to a streamlined assessment process.”

The low-interest loans will help existing businesses as Tasmanians navigate through coronavirus and focus on recovery efforts.

Applications opened today and will remain open for 12 months.