Roger Jaensch,Minister for State Growth
The Tasmanian Liberal Government is supporting local job creation and business growth at a time Tasmania needs it most by extending our Business Growth Loan Scheme for another 12 months.
We recognised the need to financially support businesses to develop and transition through COVID-19 to support employment and growth of the Tasmanian economy which is why we established the $60 million Business Growth Loan Scheme in September last year.
TheBusiness Growth Loan Scheme fund has been used to assist Tasmanian businesses to recover, adapt, grow, and develop enhanced business models that support employee retention and business growth.
And, importantly, it supports new projects that contribute towards the growth of our economy and supports ongoing employment for Tasmanians.
The Business Growth Loan Scheme was originally scheduled to close after 12 months, however, our Government understands that the impacts of COVID-19 are ongoing, and we are committed to ensuring that our support measures are reflective of the conditions faced by Tasmanian businesses. That's why we are extending the Business Growth Loan Scheme for a further 12 months.
Concessional loans of up to $3 million are available, with a minimum loan amount of $20,000 and we are presently reviewing the guidelines and eligibility criteria to ensure they remain relevant to our present circumstances.
We are committed to growing Tasmania's economy and the Business Growth Loan Scheme gives Tasmanian businesses the best chance of recovering from the impacts of COVID-19 by building resilience and capacity across all sectors of our economy.
Applications will remain open for 12 months, or until the available funds are allocated.
The program guidelines are available at https://www.business.tas.gov.au/covid-19_business_support_packages
