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COVID-19 Business Support: SME Guarantee Loan Scheme - Stage 2

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Published on 27 Oct 2020

On 1 October 2020, the Australian Government announced the commencement of the second stage of its economic plan to cushion the economic impact of the coronavirus known as COVID-19 and help build a bridge to recovery. The extension of the ‘Coronavirus SME Guarantee Scheme’ will ultimately support small and medium enterprises to get through the impact of the Coronavirus Pandemic. We are participating in this government backed loan scheme to fund small and medium business through this period of COVID-19 disruption.;

Under the scheme, Unity Bank will offer an unsecured 5-year term loan to approved business customers with a turnover of less than $50 million. For the first six months, payments are deferred and interest to be capitalised. After the deferral period, you can choose to pay Principal and Interest payments, or in certain circumstances Interest Only payments with full clearance of the debt at the end.

These loans will be offered to new and existing members at a variable interest rate and a minimum establishment fee of $500.

To get started or find out more, request a call back from our Lending Specialist or call 1300 36 2000 to arrange a discussion about your business needs today.

Credit eligibility criteria, terms and conditions and fees and charges apply.

These products are only available to approved business customers and for business purposes only. This offer is to assist with working capital and other cash flow requirements but cannot be used to refinance existing debt. Loan applications between $10,000 and $40,000 will be accepted for assessment, and applications above $40,000 will be determined on a case by case basis. View our current terms and conditions and consider them before making any decision about these products. Any advice or information on this site does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Please review our Disclosure Documents before acquiring any product.