Interest-free loans the right support for SMEs

Date Added: 1st May 2020 from

Today’s Small Business Cashflow Scheme announcement will provide much relief for small and medium businesses, says Business Central and the Wellington Chamber of Commerce.

"It’ll give businesses some breathing space as they plan for their recovery," says John Milford, Business Central and Wellington Chamber of Commerce Chief Executive.

"We know from conversations with our members that overheads and cashflow are their immediate concern. Core business expenses like rent, insurance, supplier costs, rates, and other incidentals, they’ve all been building up while businesses haven’t been operating or generating revenue.

"The interest-free year also gives businesses extra relief, and ensures they have the option to pay back the loans as quickly as can and without incurring additional debt.

"We understand Inland Revenue will be taking applications from the 12th of May and we urge Government to ensure there are no delays."