Changes to the Small Business Cashflow (Loan) Scheme

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From 28 January 2021, the eligibility criteria for the Small Business Cashflow (Loan) Scheme are changing.

The new criteria will be:

At least a 30% actual drop in revenue measured over any 14-day period in the previous six months and compared with the same 14 day-period of the previous year.

This means from 28 January the criteria will no longer cover the April 2020 lockdown.

Eligible businesses can apply online through their myIR online services login. If you have an application in draft, you need to complete your application before the changes come into effect on 28 January to meet the current criteria.

For more details, refer to previous blog:

https://www.ebp.co.nz/changes-to-small-business-cashflow-loan/

or IRD’s website.

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