We await to see if it makes a difference. The detail has not yet been released. Previous initiatives by Government to have the banks support SME generally and especially at this time have been poorly executed. Commonwealth Bank is known to be the most supportive of the Government backed Loan Guarantee Scheme, but with only 15,000 loans approved under the scheme (statistic heard in the media) it doesnt appear to have successful.
We applaud the concept behind the scheme - now for the detail and execution.