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COVID-19 - Level 1 If you've been affected by COVID-19, we may be able to help. Find out more

Since May this year, we’ve helped more than 94,300 small to medium sized businesses ease their COVID-19 related financial pressures, with a one-off business loan.

With key loan milestones quite a way off for many, we’re aware that some businesses may be worried about being caught off-guard and missing payments or owing additional interest.

To ease this burden and provide peace of mind, we’ve built notifications into our system. This means that we’ll automatically notify Small Business Cashflow (loan) scheme (SBCS) borrowers ahead of key events, including:

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

Customers with myIR will receive these notifications in their myIR account. Customers with no myIR account will receive a letter. Reminders and early warning notices will follow redirect rules.

If you have clients who have been granted an SBCS loan they will have an SBC account you can link to. Within the SBC account in myIR you’ll be able to see their loan details including any system generated letters. You may need to check your current authority to act covers this additional access before you link, and if you choose to redirect mail on the SBC account, you will need to pass these letters on to your clients.

Viewing a client’s Small Business Cashflow (Loan) Scheme (SBCS) account

Making loan repayments

Borrowers are not required to make payments until after 24 months following the date the loan amount is made available to them. You can make payments before the 24-month date if you want to (whether in a lump sum or as regular payments).

Receiving and repaying the SBCS loan