COVID-19 SME Guarantee Scheme extended

July 24, 2020

The Coronavirus SME Guarantee Scheme to assist small and medium enterprises (SMEs) impacted by the coronavirus to access working capital will be extended to loans written until Tuesday 30 June 2021.

Under the Scheme, the government will provide a guarantee of 50 per cent on new loans issued by eligible lenders to SMEs. Targeted amendments will also be made to ensure loans available suit the evolving needs of SMEs.

The Scheme was previously due to end on Wednesday 30 September 2020.