Port Macquarie’s business chamber has welcomed new state government backed loans, which look to provide financial assistance to small and medium sized businesses.
The “ready to grow” interest-free loans range from $200-thousand to $1.2-million, aiming to create more jobs and boost the local economy.
“It gives them an opportunity where they can’t get finance through a bank, or other lending institutions they can get it from the government a low or no interest rates, so it is a good boost for business in the area”
Due to the tight application restrictions in the past, a number of businesses have put it in the too hard basket.
But the state government says they’re analysing the criteria again in a bid to make the process easier.
The loans are available now but will be conditional and require job creation targets.
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