Small Business Cash Flow Loan Scheme (SBCS)
If you meet the criteria for wage subsidy, you are also eligible to apply for the small business loan. This loan is provided by the IRD. Application are open till 31-12-2020. The maximum amount loaned is $10,000 plus $1,800 per full-time-equivalent employee. The annual interest rate will be 3% beginning from the date of the loan being provided. Interest will not be charged if the loan is fully paid back within one year.
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