Expansion of SME Scheme
Expansion of the SME Recovery Loan Scheme
The Federal Government has announced the expansion of the SME Recovery Loan Scheme to help eligible small businesses impacted by COVID-19 access low-rate finance with the option of deferring repayments if needed.
St.George welcomes the expansion and will soon share with you the proposed details and revised eligibility details of their offering under the SMERL Scheme.
The extension of the SMERL Scheme eligibility criteria will help provide ongoing support to its customers and help them access funding at this critical time.
Where it is appropriate our 2- or 3-year fixed-rate offer is currently available for new and existing customers, including conversion of existing loans. The offer features St. Geroge's lowest fixed rate in years with rates from 2.39% p.a.1, 2 for fully or partially secured business loans up to $3 million.
A summary of the key benefits of our fixed-rate offer is available in the handy information sheet attached.
If you have any questions or need further support, please contact your BDM.