What’s involved in the small business cashflow scheme?
The scheme will provide $10,000 to every business and an additional $1800 per equivalent full-time employee.
There is no interest if the loan is repaid within a year, after this time the interest rate will be 3%.
The scheme has a maximum term of 5 years and repayments of the principal and interest are not required in the first two years.
Businesses will be able to apply to the IRD from 12th May.