Congratulations, Sean Fowler, Managing Director at EquipfinHuge congratulations to Sean Fowler, Managing Director at Equipfin who is has been nominated by the Commercial & Asset Finance Brokers Association of Australia (CAFBA) as Broker of the Year 2021.

CAFBA panel of independent judges have thoroughly considered all nominees and announced Sean Fowler as one of the 3 finalists in the category of Broker of the Year 2021.

What is the Government SME Recovery Loan Scheme?

On the 25 August 2021, in recognition of the continued economic impact of the COVID-19 Pandemic the Government announced the SME Recovery Loan Scheme which would be available to businesses from the 1st of October 2021 to 31 December 2021.

The scheme was designed to help SMEs to access funding to assist them in getting through the pandemic, recovering and investing for the future.

The government will provide a guarantee of 80% of the total lend amount to participating lenders up to a loan amount of $5M and lenders can offer borrowers a repayment holiday of up to 24 months.

The scheme provides businesses with a great opportunity to purchase new assets for their business, refinance pre-existing debts on assets with at least 50% of their effective life remaining, or to support investment.

To be eligible for the scheme businesses must have a turnover of less than $250M (2019-2020) and have been adversely affected by the impacts of COVID-19.

If you’re a small to medium enterprise wanting to learn more, please call the team at Equipfin on 02 9925 3900 to discuss your application under the SME Recovery Loan Scheme.