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Follow the steps below to apply for the Small Business Cashflow Scheme (SBCS). Applications are open until 31 December 2023.

Before you start

You will need to supply the following information on your application.

New Zealand Business Number (NZBN)

Business and organisations without an NZBN will need to get one before applying for the loan. You can find your NZBN number or apply for one on the NZBN website.

NZ Business Number -

Employee details

If you've paid an employee recently, their information will be pre-populated on the application.

  • Remove any employees no longer working for you.
  • Add any new employees not displayed on this list.
  • Tell us whether each employee is full-time or part-time.

To work out whether an employee is part-time or full-time, calculate the average hours they worked each week over the last 12 months (or since you employed them if it's been less than 12 months). If an employee works for you less than 20 hours a week on average, they're part-time for SBCS purposes. If they work for 20 hours or more on average each week, they're full-time for SBCS purposes.

Bank account

To have the loan paid into a different bank account to the one we hold, you need to provide the new bank account number with your application.

Read the terms and conditions

Confirm your eligibility

You need to make sure you're eligible for the SBCS before you submit an application.

Eligibility for the Small Business Cashflow Scheme (SBCS)

Apply in myIR

You need to have a myIR account to apply for the SBCS. If you do not already have a myIR account, you can create one.

Log in to myIR, then go to the 'I want to' section and select 'Apply for a Small Business Loan'. Follow the on-screen prompts to complete the application.

Log in to myIR

If you are an existing borrower and already have a SBCS loan (and have not defaulted on this loan), you may be able to apply for a top up loan. You will have to go through the same application steps set out above in 'Applying for a SBCS Loan'.

For loans applied for from 21 March 2022, you will have the option to draw down the maximum loan amount as a lump sum or opt to take the loan in up to 4 amounts (up to the maximum loan amount) which must be drawn down before 31 December 2023.

Request a drawdown in myIR

Log in to myIR, then go to the 'I want to' section and select 'Request a drawdown’. Follow the on-screen prompts to complete the request.

What happens next

Once approved, you should receive your loan amount into the nominated bank account. A copy of the loan Contract will be in your myIR, within 5 working days. There will be no loan adjustments for any tax debt owed and you will not have to pay GST or income tax on the loan.

The tax deductibility rules apply to expenditure funded by the loan.

We'll notify SBCS borrowers ahead of key events, such as:

  • when interest will start if the loan has not been repaid in full within 2 years
  • when regular loan instalment payments are about to start
  • if there's a potential risk of defaulting.

Customers will receive these notifications in myIR. Reminders and early warning notices will be sent to your tax agent if they are linked for SBCS.

For more information on making repayments read 'Repaying the Small Business Cashflow Scheme loan'.

Repaying the Small Business Cashflow Scheme loan

My responsibilities

You must provide accurate information during the application and drawdown request processes. Providing false or misleading information or getting any subsidy or payment you were not entitled to may result in an investigation, including for offences under the Crimes Act 1961.

For advice on whether the SBCS is right for you, speak to your financial advisor or tax agent. You may also wish to seek legal advice if you take out a loan. You may need to find out if you have to ask for your bank's (or another lender to your business or organisation) consent to take out the loan.

We do not provide financial or legal advice.

Last updated: 31 Mar 2021
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