NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
Resources
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
Developers, contractors, banks and non-bank lenders will be able to take advantage of loans up to $1 million in phase 2 of the Coronavirus SME Guarantee Scheme starting 1 October.
The $40 billion scheme boosts loan values and increases repayment time from three to five years in a bid for the federal government to support businesses and the economy.
Under the scheme half of a loan will be guaranteed by the government enabling small- to medium enterprises access to more funding.
Securing funding during the pandemic is a primary concern of many developers with tight requirements and economic uncertainty making it a challenging process.
Simplicity Loans and Advisory managing director Matthew Johnson said they have been helping clients with these submissions to forward with new projects.
“It can help developers access funding lines at cheaper rates and better terms than they may have otherwise,” Johnson said.
“This is a new area and could be an exciting space for developers to tap into.”
In phase 2 of the scheme SMEs including sole traders and not-for-profit with a turnover of up to $50 million are eligible to apply.
The Simplicity managing director said so far only $1.7 billion of the possible $40 billion has been utilised across 17,652 loans.
“While the finer details of phase 2 are still being locked in the highlights released so far seem to be very positive,” Johnson said.
“I think the ability to utilise this funding to invest is very important as it will help provide SMEs with the ability to start growing their business again.”
Simplicity specialise in commercial and property finance as well as equipment, vehicle, medico, franchise and business loans.
The Sydney and Brisbane-based brokerage and property advisory company have recorded over $1 billion in settlements since launching in 2017.
“We assist our clients in planning, structuring and negotiating optimal loan terms with lenders,” Johnson said.
“We deal with a large range of lenders from the major banks through to private lending and preferred equity, which means we can assist clients in an array of circumstances.”
Click here to speak with the team today.
The Urban Developer is proud to partner with Simplicity Loans and Advisory to deliver this article to you. In doing so, we can continue to publish our free daily news, information, insights and opinion to you, our valued readers.
