Spotcap SME Business Loan

COVID-19 Support

Spotcap is here to support you

Spotcap is pleased to announce that we will be participating in the Australian governments’ SME Guarantee Scheme, enhancing our ability to support business owners experiencing the economic impacts of COVID-19. Funds will be available from the 1st May until 30 September 2020.

SME Guarantee Scheme Business Loans

How will the Scheme help Australian businesses? 

 

  • Under the scheme, businesses can apply for new loans up to $250,000 up to three years and the Government will secure 50 per cent. This means lenders are able to service more businesses in these challenging times. 
  • There is an initial 6-month repayment relief period, with interest to be capitalised. This will support businesses with their cash flow.
  • Loans under the scheme are unsecured meaning businesses do not need to provide an asset, such as the family home, in order to be approved.

Who is eligible for the SME Guarantee?

The Guarantee will be available to: 

 

  • Australian SMEs, including sole traders, with a turnover of up to $50 million. 

 

  • Subject to Spotcap’s minimum criteria (18 months in business, minimum $200k turnover, Australian business and business bank account).

 

  • Also subject to Spotcap’s underwriting criteria.

Register your interest

Please register your interest for a Coronavirus SME Guarantee Scheme loan here, and we’ll get back to you shortly.