Up to $300,000 is available to provide direct finance for SMEs to speed their development.

Accelerating Growth Loans


Accelerating Growth Loans (AGL) aim to drive jobs and business growth by providing emerging scalable fast growth businesses with capital to address barriers in accessing affordable finance from commercial sources.



Under the pilot, a total of $3.5 million in loan funding (principal) is available.

The Accelerating Growth Loans  pilot aims to test the market for these loans and evaluate the effectiveness of a loans program in accelerating the growth of jobs and businesses in NSW.

The Accelerating Growth Loans aligns with the overarching objectives of the Jobs for NSW Act 2015 (NSW):

  • to facilitate the creation of new jobs in NSW in a way that is responsive to changes in the economy
  • to facilitate the development and attraction of new businesses, and the consolidation of existing businesses in NSW
  • to facilitate the provision of innovative, cost-effective and strategically targeted incentives for economic development in NSW.



The minimum loan request is $100,000 per project and the maximum is $300,000.


Eligible Projects

Funds provided under the Accelerating Growth Loans pilot must:

  • be used to expand and commercialise a new or innovative product(s), process(es) or service(s).
  • be allocated at a minimum of 50% towards staff expenditure (wages and training) in NSW, with the remainder used for capital or operational expenditure to facilitate business growth. The non-staff proportion of the loan may be spent within NSW or elsewhere.
  • not be used to refinance existing debt.
  • not be used for project components already awarded by other Commonwealth, State or Local government grants, loans, subsidies or funding.


Eligible Applicants

To be eligible for an Accelerating Growth Loans at the time of an application your organisation must:

  • Be a company incorporated under the Corporations Act 2001 (Cth) which is registered for GST (other than a tax-exempt company), and its trading activities:
    • Must form a sufficiently significant proportion of its overall activities as to merit it being described as a trading corporation, or
    • Must be substantial and not merely peripheral activities of the organisation.
  • Or be an individual, partnership or unincorporated trustee who agrees to form a company incorporated under the Corporations Act 2001 (Cth) (other than a tax-exempt company), if the application for an AGL is successful.
  • Employ a minimum of five people (including full time, part time and casual).
  • Have an annual turnover between $500,000 and $3,000,000 in the most recent financial year.
  • Have experienced turnover growth or employee growth at an average minimum of 20% each year over the previous three years, including the most recent financial year.
  • Have ownership, access to, or beneficial use of, any intellectual property that is the subject of, or necessary to, carry out the funded project.
  • Be a ‘parent’ organisation – that is, not a subsidiary of another organisation.
  • Have had business operations underway for at least three years.
  • Not be insolvent or under external administration.
  • Have all Australian Taxation Office (ATO) requirements, payroll tax and superannuation contributions up-to-date.

And must also be able to satisfy the following:

  • Have a business strategy to expand commercialisation of new or innovative product(s), process (es) or service(s) with intended employee and/or turnover growth of at least 20% each year over the next three years, with assistance from the AGL.
  • be able to demonstrate the organisation has been unable to access affordable finance from commercial sources within the previous six months– evidenced by official document/correspondence from a commercial financial institution or through discussion between Jobs for NSW and your relationship manager at your financial institution.
    • Documentation submitted should indicate the quantum of finance requested and that offered by the lender, and the interest rate the lender was prepared to offer.

As one of the purposes of the pilot is to evaluate the effectiveness of a loans program in accelerating the growth of jobs and businesses in NSW, applicants are requested to provide business performance data at 12, 24 and 36 months post the pilot for this purpose.

Businesses in both Regional and metropolitan NSW are eligible and welcome to apply.



Applications close 2 November 2016.


More Information

  • Source
  • Accelerating Growth Loans Guidelines
  • Accelerating Growth Loans Fact Sheet
  • Accelerating Growth Loans FAQs