IRD News

Time for Small Business Cashflow Scheme extended

Posted 06 July 2020

The time for applications to the Small Business Cashflow Scheme has been extended until the end of the year.

Businesses now have until 31 December to apply.

As of 1 July 2020, almost 90,000 businesses have applied for more than $1.5 billion  in loans from the Scheme.

Loans under the scheme are interest-free if repaid within a year. Businesses and organisations have five years to pay the loan off, with no repayments required during the first two years.

Applications first opened on 12 May 2020 and can now be submitted up to and including 31 December 2020.

For details of the loan conditions visit:  https://www.ird.govt.nz/covid-19/business-and-organisations/small-business-cash-flow-loan

Details about all our COVID-19 relief initiatives can be found at www.ird.govt.nz/covid-19