Peter Gutwein

Premier of Tasmania

23 September 2020

Michael Ferguson, Minister for State Growth

Positive response to loans scheme

The Tasmanian Liberal Government’s new business loan scheme has been extremely well received, with nine applications submitted for assessment already, after being open for just over a week, and a further 72 underway.

We know COVID-19 has taken an enormous toll on Tasmanian businesses, and this scheme will help successful applicants across all sectors of our economy build resilience, strengthen their business, adapt, grow and employ more Tasmanians.

The new $60 million Business Growth Loan Scheme, announced on September 14, builds on the success of our previous $50 million loan scheme, which assisted more than 350 businesses during the height of the pandemic.

Under our new scheme, low-interest loans of between $20,000 and $3 million are available to eligible Tasmanian businesses, and will help support local job creation and business growth as we recover and rebuild.

Loans of up to $100,000 may be provided without security, and will be subject to a streamlined assessment process, meaning money in the pockets of Tasmanians faster.

These loan schemes, together with more than $80 million in targeted grant programs for small business, represent unprecedented support for Tasmanian businesses.

Our recovery plan is working, and while there is still a lot of work to do, confidence is returning to Tasmanians and Tasmanian businesses.

We will continue to work hard to support Tasmanian jobs and Tasmanian businesses.

More Media Releases from Michael Ferguson

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