A Real CFO

ACT Microcredit Loan Program

ACT Microcredit Loan Program
The ACT Microcredit Loan Program aims to provide a limited number of low interest and fee-free loans to eligible low-income earners who wish to start or expand an existing business.

There are two types of loan available:

  • Interest free loans up to a value of $3,000.
  • Low interest loans valued between $3,001 and $10,000 with an interest rate of 3%.

Who Can Apply?

Eligible applicants for the Microcredit Loan Program must:

  • Have a Health Care Card (for a period of at least six months), Pension Card or equivalent.
  • Have a combined family income no higher than:
    • $65,000 for no interest loans
    • $75,000 for low interest loans
  • Be an ACT resident for minimum of six months (proof of residency required).
  • Have a business that will be based in the ACT (for no interest loans) or is existing or semi-established and based in the ACT (for low interest loans).
  • ACT resident for minimum of 6 months

 

Eligible activities include:

  • No interest loans: Development of a well conceived new business or new business idea and to be used to get started in business.
  • Low interest loans: For an established business with customers and a supporting cash flow and business plan, to be used to help the applicant get to the next stage of the business

In addition, the following criteria will also be considered:

  • Inability to fund in any other way.
  • Proof of ability to meet requirements of loan
  • Clear commitment to the success of the idea.
  • Openness to training and development.
  • Willingness to participate in the development program.

Note funding can only be used for material or equipment essential to growth or expansion of the business but not for personal expenditure.

Learn More

Note there are only12 to 15 loans available per year under the Microcredit Loan Program.

Stage 1 of the application process is an Expression of Interest (EOI) lodged with Lighthouse Business Innovation Centre.  Successful EOI applicants are invited to submit a full application

To learn more click here

Wayne Wanders is an experienced Business Advisor skilled in analysing business financial performance and cash flow. Wayne may also be able to assist you in preparing your grant application.  Contact Wayne below for a free no obligation session.  
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Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you.  In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face.  And this session does not need to be face to face. At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times. Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

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To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.
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Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times. Wayne Wanders, A Real CFO wayne@aRealCFO.com.au
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