Tourism Development Loan Scheme
The $50 million Tourism Development Loan Scheme will provide concessional loan funding to support:
- The improvement and development of tourism products and experiences that support Tasmania’s position as a sought-after and leading Australia destination as the economy re-builds from COVID-19 and travel returns to normal.
The scheme will assist operators to rebuild and regain market share and will provide an opportunity to build resilience, innovate and contribute to the priorities identified within the T21 Plan.
The minimum loan amount is $50 000 and the maximum loan amount is $2 million. Loans above $2 million may be considered by exception (applicants seeking a loan above $2 million must call Business Tasmania before applying online).
Loan terms of up to five years are available. Loans will be interest free for the first three years, after which commercial interest rates will apply. Principal repayments will commence no later than 24 months after the initial drawdown of the loan. Loans need to be fully secured, up to a maximum Loan to Valuation Ratio of 80 per cent.
The scheme will open for applications on Monday, 23 August 2021 and will close on Tuesday, 23 August 2022, or until all funding has been utilised, whichever occurs first.
How to apply
- Read the guidelines here, and consider the eligibility criteria.
- Discuss your proposal with your financial or business advisors.
- Contact Business Tasmania at firstname.lastname@example.org or on 1800 440 026 if you have any questions.
- Complete your application here using the department’s online SmartyGrants portal.