Changes to the Small Business Cashflow Scheme

Applications are now to remain open until 31 December 2023.

The maximum amount loaned remains at $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 2 years (previously 1 year) .

As well as spending on core operating costs, businesses will now be able to choose to use the loan to invest in their business, helping it to adapt to the impact of COVID-19.

There are also changes to the eligibility criteria in the following 4 areas:
1. When the business was established
2. The decline in revenue test
3. Employee number test
4. Re-borrowing

The changes will be in effect from 28 January 2021. Note that the change in the decline in revenue test will significantly change which businesses are eligible as the time period will no longer include the April 2020 lock down. You can view the full changes on IRD’s website at

Contact Q2 on 09 2224448 if you would like to discuss whether you are eligible.

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