ScoMo’s SME ‘corona loan’ scheme all spin no substance

A few months back, the Morrison Government expanded its ‘corona loan’ scheme designed to get cheap government-backed money into the hands of struggling small to medium-sized enterprises (SME):

Small employers will be given greater access to a $40 billion loan scheme to help them through the recession when the federal government overhauls its flagship JobKeeper payment this week.

The expanded loan scheme will offer companies four times the amounts previously allowed up to a new cap of $1 million, while extending repayment times from three to five years.

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