PHOTO: SUPPLIED Galu Letiu, owner of construction company Fair & Square Building Services, said the small business cashflow loan has helped during Covid-19.
Small and medium businesses in the construction and accommodation industries have been the biggest benefactors of the Government’s small business cashflow loan.
Nearly 13,000 construction SMEs have accessed the loan scheme since its inception in May, borrowing more than $216 million. The average payout to construction SMEs was $16,700.
More than 8000 accommodation businesses have applied for and received the loan, totalling $188m industry wide, with an average of $22,800 each.
In total, nearly $1.4 billion has been paid out to more than 82,000 SMEs under the loan scheme, averaging $16,900 per business.
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