COVID-19 Small Business Cash Flow Loan (SBCS)

Organisations and small to medium businesses, including sole traders and the self-employed, may be eligible for a one-off loan with a term of 5 years if they have been adversely affected by COVID-19.

The Small Business Cashflow (Loan) Scheme (SBCS) has been introduced to support businesses and organisations struggling because of loss of actual or predicted revenue as a result of COVID-19. They must have 50 or fewer full-time-equivalent employees.

Inland Revenue will administer the payments and repayments of this scheme. Applications have been extended to the end of 2023.

Eligible businesses and organisations are entitled to a one-off loan. The maximum amount loaned is $10,000 plus $1,800 per full-time-equivalent employee.

Loans will be subject to an annual interest rate of 3% from the date it is provided by us.

If you repay the loan in full within 2 years you won’t be charged any interest. If you do not repay the loan in full within one year, you will be charged interest for the entire term of the loan.

Repayments are not compulsory in the first 24 months. Voluntary payments can still be made over this period. After 24 months, you will be required to make regular payments for both the principal and interest.

You are eligible to apply for the loan if you have a 30% drop in revenue for any 14 day period in the previous six months compared to the same 14 days a year ago. This is no longer a one-off loan but can be reapplied for if the criteria are met again after the loan has been repaid.

– Rachel Liddell

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