Up to $5M is available from Loan Guarantees to help fast-growth SMEs across NSW to obtain the loan approvals needed to expand.

Loan Guarantees

Loan Guarantees

Loan Guarantees are a new initiative aiming to drive jobs and business growth in NSW by providing established and scalable, fast-growth businesses with capital to address barriers in accessing sufficient finance from commercial sources.

Loan Guarantees are offered in partnership with an Australian authorised financial institution.

 

Objectives

The Loan Guarantee 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

 

Funding

Individual Loan Guarantees can be up to $5 million but no more than 50% of the value of the loan.

 

Eligible Projects

Financial assistance from a Loan Guarantee may be used to expand operations through:

  • working capital
  • payroll
  • scaling of commercialised research and development
  • expanding production capacity
  • exports and establishing national and international headquarters (if the business headquarters and jobs are created within NSW).

 

Eligible Applicants

Loan Guarantees are available to fast-growing SMEs creating jobs in NSW that require capital to fund further expansion.

To be eligible for a Loan Guarantee, businesses must:

  • have a registered ABN and be an incorporated company
  • have a minimum of 5 employees (full-time, part-time or casual)
  • be creating a minimum of 30 additional FTE jobs within 3 years in NSW
  • be able to demonstrate revenue of at least $3 million
  • have an inability to access sufficient funds from the Lender to enable the business expansion.

 

Timing

Applications open on an ongoing basis.

 

More Information