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CONCESSIONAL LOANS
Concessional Loan
assistance provided :
- Maximum loan assistance is 50% of the eligible costs.
- There is no minimum or maximum loan amount
Eligible projects
covered by concessional loans:
- Projects involving the early commercialisation of
technological innovations of goods, systems or services including:
- trial production runs including tooling up costs
- regulations and standards compliance
- protection of core intellectual property
- trial and demonstration activities
- product demonstration
- related market research
Eligibilty of Company:
- the project would not proceed satisfactorily without
loan support.
- Applicants have been unable to obtain sufficient
funding for the project from financial institutions.
- Must have less than 100 employees
Time Frames:
Once
the committee has reviewed your application a decision is usually handed down
after a week detailing reasons why or why not your application was/was not
approved.
If a
loan has been approved:
- the maximum term of the loan is six (6) years with
repayments commencing 42 months after the date the loan was granted.
- the first three years of the loan are interest free.
- Interest accrues over the following three years at
40% of normal interest rates - if the current rate was 10%, the
concessional loan rate would be 4%.
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