A Loan Guarantee for fast growth businesses who are unable to access the full amount needed to enable expansion projects. Jobs for NSW will guarantee up to 50% of the loan which will be (capped at $5 million of the total loan amount)
Loan Guarantee’s may be used to expand business operations including but not limited to:
- working capital
- scaling of commercial R&D
- production capacity expansion
- exporting including establishing Australian and international headquarters. Note: headquarters and jobs created within the business must be based in NSW).
Businesses eligible for a Loan Guarantee:
- are required to have a registered ABN and be an incorporated company
- must have no less than 5 employees either full-time, part-time or casual
- need to be creating a minimum of 30 more full time jobs in NSW with three years
- need to show revenue of at least $3 million
- must show that they are unable to access sufficient funds from other lenders for the purpose of expanding business.
See some business owners that have successfully applied for the funding under the program:
(AOC) Australia Oyster Coast received $10 Million enabling international expansion and creation of 40 more full time positions within the company. With investment through Jobs for NSW of $3.3 million and fund partner First State Super $6.7 million the company can now expand farming and processing operations while improving infrastructure and investing in marketing of their product.
Upstairs Startup Hub $270,000 to new startup in the Central West creating 137 jobs in 5 years. The start up hub is a place where new business owners can meet, develop their ideas, meet mentors and expand their business.
Digital Media Company AFK Sydney company receives $300,000 Accelerating growth loan to maintain innovation and create nineteen new employment opportunities within the business.