Managing your finances during COVID-19 webinars
A series of educational webinars designed to assist you in managing your personal and practice finances during the COVID-19 pandemic.
Learn MoreSME Government Guarantee
Scheme Loan Phase Two
The Federal Government has launched Phase Two of the SME Guarantee Scheme to provide small and medium enterprises (SME) with access to a range of funding to help them to adapt to their new operating environment, support their current or upcoming cash flow needs, or invest in their business for the future.
Under the Scheme, the Government will provide BOQ Specialist with a guarantee of 50% on new loans to be used for business purposes such as purchasing commercial property, your practice and/or assets, as well as for working capital. Similar to Phase One, the Government has set eligibility criteria for participation in this Scheme.
To apply, contact your dedicated financial specialist or call 1300 160 160.
The Government SME Guarantee Scheme Loan Phase Two is available to all eligible new and existing BOQ Specialist clients with no requirement that you have been negatively impacted by COVID-19.
There is a maximum lending limit of $1 million per ABN holder, with the option to choose either unsecured or secured loans (excluding residential property).
You will be required to complete a SME Government Guarantee Scheme Borrower Declaration form.
It is important that the attestations you make in this form are accurate as these will be used in assessing your eligibility for the Scheme loans.
Based on your lending requirements, your dedicated financial specialist will then guide you on the application forms and supporting documentation required.
The facility is repayable on demand and, in any event, at the expiry of the initial term.
At the end of the five year loan term, we will assess your current situation at that time and discuss the various ways in which the facility might be restructured, subject to relevant credit and other approval.
Please contact your dedicated financial specialist directly or call our Client Service Centre below.
The issuer and credit provider of these products and services is BOQ Specialist. Terms and conditions, fees and charges and lending and eligibility criteria apply. You should obtain and consider the product terms and conditions before making any decision about whether to acquire the products. We reserve the right to cease offering these products at any time without notice.
Any information is of a general nature only. We have not taken into account your objectives, financial situation, or needs when preparing it. Before acting on this information you should consider if it is appropriate for your situation. BOQ Specialist is not offering financial, tax or legal advice. You should obtain independent financial, tax and legal advice as appropriate.
Note: Not all clients will be eligible for the SME Guarantee Scheme Loan Phase Two and you should contact your dedicated financial specialist to understand the eligibility criteria and what other financing options are available. Standard fees and charges apply to all loan products. The Government Guarantee provides an interest rate benefit, however in certain circumstances, a restructure of the Phase Two loan may result in the loss of the guarantee and subsequent loss of the interest rate benefit If you already have a One Account for Business with overdraft, this facility cannot be used to refinance your existing facility and will need to be established as a new facility to be eligible for the Scheme.
The issuer and credit provider of these products and services is BOQ Specialist – a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian credit licence no. 244616 (“BOQ Specialist”). Any information is of a general nature only. We have not taken into account your objectives, financial situation, or needs when preparing it. Before acting on this information you should consider if it is appropriate for your situation. BOQ Specialist is not offering financial, tax or legal advice. You should obtain independent financial, tax and legal advice as appropriate. BOQ has the right to change or cancel these relief measures at any time without notice. Information current at 5 November 2020.
* Subject to approval. Lending criteria applies. Loans must be formally approved by 30 June 2021.