Loan Guarantee Scheme
The Loan Guarantee Scheme is currently closed.
The Tasmanian Government has established a Pilot Loan Guarantee Scheme of $500 000 to assist small to medium size enterprises located in the North West and Western regions of Tasmania (as defined by the 64 phone prefix) to access main stream finance providers to fund business expansion.
Key features of the loan guarantee scheme
- Guarantees between $30 000 and $50 000 for eligible Tasmanian owned businesses.
- Representing up to 20 per cent of a new bank loan provided for the purpose of:
- Purchase of freehold property
- Purchase of plant and equipment.
- Guarantees to support working capital loans and refinancing of existing borrowings are ineligible under this scheme.
- The maximum term of the guarantee will be five years. Guarantee amount will reduce in line with reductions in underlying loan principal.
- Guarantees cannot be extended once expired.