Review any lending received through the Small Business Cashflow Loan Scheme.
The scheme was extended to 31 December 2023, and businesses that have repaid their loans can re-borrow until that date. Under the scheme, a top-up loan allows businesses that have already accessed lending to draw down an additional $10,000 (or more for businesses that did not initially borrow the full amount available), with a new repayment period of five years (the first two years are interest-free).
Note when your two-year interest-free period expires. Can you afford to repay your loan early to avoid unnecessary interest payments?
Disclaimer: This blog has been carefully prepared, but it has been written in general terms only. The blog should not be relied upon to provide specific information without also obtaining appropriate professional advice after detailed examination of your particular situation.