The Morrison Government has just announced a post-JobKeeper stimulus package to rollout on 1 April 2021. The federal government will roll
out the $1.2 billion stimulus package across the travel and tourism industries, along with an extension to its SME Loan Guarantee Scheme
once JobKeeper expires at the end of the month.
We have read the terms of the SME loan scheme and it is honestly disappointing. This is a loan and
not a subsidy. The capped rate at 7.5% is also high. For businesses, particularly in Tourism, already suffering the affects of Covid-19
restrictions on travel, this is not a lifeline, and more like a rope & noose for already stressed business owners.
The support package will subsidise 50 per cent of 800,000 domestic flights to select tourism destinations across Australia. The discounts
will be based on average air fares, subject to final discussions with airlines, and will commence from 1 April.
Destinations included in the scheme include the Gold Coast, Cairns, the Whitsundays, Alice Springs, Broome, Kangaroo Island and Merimbula.
Expanded SME loan scheme
As part of its targeted support announcement, the Morrison government also announced an extension to, and expansion of, its SME Loan
Guarantee Scheme. The loans will be available from 1 April and remain open until 31 December.
The scheme is only open to recipients of the JobKeeper payment between 4 January 2021 and 28 March 2021, specifically small and medium sized businesses with up to $250 million turnover. Both self‑employed individuals and non-profit businesses are eligible. Businesses that have accessed loans in Phase 1 and Phase 2 can also apply for loans under the scheme.
Participating lenders are offering guaranteed loans on the following terms under Phase 2:
To read more about the SME Loan Scheme including the Loan Uses and How to Appy, click
You apply through the banks existing lending channels).
Should you have any questions about the SME Loan Scheme please do not hesitate to contact us on Cairns 07 4041 6188 or Sunshine Coast 07 5391 4747.