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SME Recovery Scheme

The Government’s SME Recovery Loan Scheme

The Government’s SME Recovery Loan Scheme (the Scheme) is designed to support the economic recovery and provide continued assistance to SMEs dealing with the economic impacts of the coronavirus crisis.

Eligible Businesses:

  • The recipient of a JobKeeper payment between 4 January 2021 and 28 March 2021.
    *   Note: a JobKeeper Scheme‑Backed Loan can only be approved under this eligibility prior to the Scheme Expansion date (1 October 2021);
  • Affected by the floods in eligible Local Government Areas in March 2021
    *   Note: a Flood affected loan can only be approved under this eligibility prior to 1 January 2022;
  • Adversely economically affected by COVID‑19
    *   Note: a Covid Scheme‑Backed Loan can be approved under this eligibility from the Scheme Expansion Date (1 October 2021).


  •  Majority of commercial purposes including expansion/ acquisition (property or business), working capital (albeit this is being financed as term debt), refinance of existing debt, general investment.

Loan Parameters:

  • Term up to 10 years
  • Loan up to $5M
  • Lenders are pricing loans under the SMERL Scheme inline with current market pricing.


  • Directors’ guarantees
  • Company charge over the borrowing entity

The biggest draw card for the scheme is the ability to finance debt over 10 years which significantly reduces loan repayments. For context, usually, in the absence of equity in property to secure a loan, lenders structure the repayment over 3-5 years.


  • Client had an option in their lease to purchase 50% of the freehold of their premises
  • Recent funding successful with a big 4 bank; structured as follows
  • Purpose – purchase 50% of freehold premises via newly created entity
  • Loan amount – $1,570,000
  • Term – 10 years
  • Interest Rate – 3.78% pa (variable)
  • Repayments – $15,732 p/month P&L
  • Fee – $600.00
  • Security structure
    • Directors’ guarantees limited to $1.57M
    • Company charge over the trading entity (also the borrowing entity)


Additional information can be located at –