Australia's Treasurer Frydenberg will announce later today a six-month extension to the existing loan guarantee scheme for small to medium-sized businesses due to expire at the end of December.
- this will take the scheme to just beyond May 2022
- the extended program will see the current 80% government guarantee drop to 50%
- Treasury expects on current trends up to 24,000 small businesses could be expected to take up new loans, which are capped at $5m each
Info via local media here in Australia.
