Grant Robertson. Photo: Getty ImagesThe Government will provide interest-free loans to of up to $100,000 to small businesses grappling with the impacts of Covid-19, after banks failed to meet the Government's expectations. The loans are available for a year and will be offered to businesses with 50 or less full-time equivalent staff. In a statement, Finance Minister Grant Robertson appeared to be disappointed in banks' lending to help businesses impacted by Covid-19. The scheme will provide $10,000 to every firm and in addition $1800 per equivalent full-time employee.

Source: Otago Daily Times May 01, 2020 00:11 UTC