Business Saving Loans available via Export Finance Australia
Australian exporters struggling under pressure from COVID-19 will be able to access business-saving loans through a new $500 million fund.
The Federal Minister for Trade, Tourism and Investment, Senator Simon Birmingham has announced that Australian exporters impacted by the COVID-19 crisis are able to apply for business-saving loans of between $250,000 and $50 million.
Export Finance Australia will administer this new capital facility which will provide loans to established and previously profitable trade-exposed businesses.
The COVID-19 Export Capital Facility complements other initiatives to sustain exporters, and position them to rebound quickly, including the Small and Medium Enterprises (SME) Guarantee Scheme that will support up to $40 billion of lending to SMEs (including sole traders and not-for-profits).
Under this scheme, the Federal Government will guarantee 50 per cent of new loans issued by eligible lenders to SME up to $250,000.
In addition to the COVID-19 Export Capital Facility, Export Finance Australia will also offer assistance to its existing customers via access to credit and financial relief.
For more information on Export Finance Australia, including how to apply for finance, visit: www.exportfinance.gov.au/covid19