Extension of Small Business Cash Flow Loan

Last week the Government announced the Small Business Cashflow Loan Scheme (SBCS) will now be accessible for a longer period of time.

Organisations and small to medium businesses, including sole traders and the self employed now have until 31 December 2023 to apply for an unsecured loan under the scheme which was previously 31 December 2020.

The interest free period for the loan under the new scheme has been doubled from one year to two years.

The criteria for what the loans can be used for has also been broadened beyond core business operating costs to capital expenditure items such as investment in equipment.

At this stage, all other aspects of the loan scheme remain the same however further changes may happen at a later stage and we’ll keep you informed.

Please refer to our original article here for a reminder of these terms.

For advice on whether a small business loan is right for you please contact us, otherwise download the application guide.