IRD says $161m owed, 10,000 in default over Small Business Cashflow loans
The SBC scheme was intended to help small and medium-sized businesses affected by the Covid-19 pandemic. From June, Inland Revenue will default a loan if it was not paid off, and default interest would be charged. “More than 129,000 businesses were issued loans totalling $2.4 billion. The average amount approved was $17,000.” AdvertisementAdvertise with NZME.