At a glance

Low rates 1
Available for new variable loans
100% LVR 2
Up to 100% Loan-to-Value Ratio
10 years 2
Interest Only Option
Repayment holiday for the first 12 months 3

What is the Scheme?

The Federal Government has launched the 2022 SME Recovery Loan Scheme, Phase 3 of the SME Guarantee Scheme.

The 2022 SME Recovery Loan Scheme is designed to support economic recovery, to provide continued assistance to eligible small and medium enterprises (SME).

For businesses, this means access to finance for a broad range of business purposes including to support investment and to refinance pre-existing debt of an eligible borrower, including debt from previous SME Guarantee Scheme phases.


About the Scheme

  • The Government SME Recovery Loan Scheme is available to eligible new and existing BOQ customers.
  • Maximum lending limit of $5 million per ABN holder (inclusive of any lending under the scheme with other eligible lenders).
  • Secured variable business term loans (excluding residential property).
  • A broad range of business purposes, including to support investment, acquisition of another business, refinance of any pre-existing debt of an eligible borrower, including those from Phases 1 and 2 of the SME Government Guarantee Scheme.

Lending cannot be used to purchase residential property or purchase financial products.

Who is eligible?

Small to medium businesses and not-for-profit organisations who meet the following requirements are eligible to apply:

  • Are carrying on a business, or are a not-for-profit organisation, and have a valid registered ABN, and
  • Have annual business turnover in the 2019-2020 financial year of <$250m and likely to be <$250m in the 2020-21 and 2021-22 financial years, and
  • Be adversely economically affected by the Coronavirus Pandemic.

Loan must be approved and loan documentation signed and returned to BOQ by 30 June 2022.

What is BOQ offering?

  • Up to $5 million SME Recovery Loan Scheme lending per business entity ABN.1
  • Business Term Loans2 with:
    • a maximum 10 year loan term; and
    • low interest rates1, available on application.
  • Up to 85% Loan to Value Ratio for owner occupied commercial property (LVR).2
  • Up to 100% Loan-to-Value Ratio(LVR) will be considered on application.2
  • $0 application fee and no monthly Loan Service Fees.1
  • Option for a repayment holiday for the first 12 months.3
  • 'Lease Doc’ option with reduced documentation requirements for LVR’s up to 70%.2
  • The facility is repayable at the expiry of the loan term.
  • Option to review loan structure at the end of the loan term, subject to relevant credit and other approvals at that time. 

Ready to apply?


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