For both new and existing eligible Illawarra Credit Union Customers
The offer at a glance:
- A maximum loan term of 3 years;
- Loan amount of up to $250,000 plus capitalised interest;
- No repayments for the first 6 months (interest will be capitalised) following which principal and interest repayments will commence.
Business Unsecured Loan SME
- 5% p.a. (Variable)
- 3 years Principal & Interest
- No application fees
Things you need to know.
For both new and existing Illawarra Credit Union customers, to be eligible for the SME support loan you will need to meet the below criteria.
- Your business has been impacted by COVID-19
- The annual turnover is less than $50 million
- The purpose of the loan must be for business working capital such as liquidity and operating expenditure
- You have not accepted another SME support loan from another financial institution
- The business is based and operates within Australia
- You must have an ABN to apply.