IRD Small Business Loan or ‘Small Business Cashflow Scheme’ (SBCS)


Key details for the SBCS are below, please get in touch with us if you wish to discuss whether you should apply or your eligibility criteria.

  • The loan is for small to medium size business owners with 50 or fewer full-time equivalent employees, including sole traders and the self-employed, who have been adversely affected by COVID-19.
  • Eligibility follows the same criteria as the wage subsidy scheme with the main requirement being a 30% decrease in actual or projected revenue for any month from January 2020 to 9 June 2020 compared to the same month last year.
  • In most cases, businesses can apply for a loan of $10,000, plus $1,800 per full-time equivalent employee, to a maximum of $100,000.
  • The annual interest rate is 3%, from the start date of the loan, but interest will not be charged if the loan is fully paid back within the first year. Repayments are not compulsory in the first 24 months.
  • The maximum term of the loan is 5 years and it must be paid back in full by 31 July 2025.
  • Applications opened from 12 May 2020, up to and including 12 June 2020. Payment of the loan should be within 5 working days.
  • To apply, you can do this directly via myIR (your IRD login), send a secure message through your myIR account and select Small Business Cashflow (loan) Scheme, or you can request a call back to complete over the phone.


For further information please see https://www.ird.govt.nz/covid-19/business-and-organisations/small-business-cash-flow-loan