Three new loan products will be available for small and medium businesses across NSW, to help them grow and create more jobs. 

Deputy Premier and Minister for Small Businesses and Skills John Barilaro announced that NSW Government-backed Jobs for NSW will address the barriers the NSW businesses face in getting access to finance. 

“This is a case of the NSW Government providing funding where traditional lenders are unable to assist because the businesses in question don’t have a sufficient trading history or inadequate security for a loan,” Mr Barilaro said. 

The three loan products will include Regional Growth Loan (RGL) targeting job creation in regional NSW, for SMEs that demonstrate revenue over $500,000. The loan will be in form of $200,000 to $500,000 interest free loans over four years. 

The next loan product will be an Accelerating Growth Loan (AGL). This will target job creation in metropolitan Sydney, Wollongong and Newcastle and will be available for SMEs that demonstrate revenue over $500,000. The loan of $200,000 to $500,000 will also be given, but at 9.2 per cent interest up to three years. 

The final loan of Strategic Grow Loan (SGL) will be for all SMEs across NSW that demonstrate revenue over $1 million. Loans between $500,000 to $1.2 million will be available at 9.2 per cent interest over four years. 
All three loans will be conditional with an agreed job creation targets. 

Over the past six years, SMEs have made up six per cent of NSW firms and created over one million new jobs.