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Business Tasmania

Business Growth Loan Scheme

The Tasmanian Government recognises that the private sector is critical to rebuilding and growing our economy and remains committed to assisting Tasmanian businesses to develop and transition to sustainable post-COVID operating models.

The $60 million Business Growth Loan Scheme will provide concessional loan funding to support:

  • The State’s businesses to recover, adapt, grow and develop enhanced business models that support employment retention and business growth, and
  • New projects that contribute towards employment and growth of the Tasmanian economy.

The scheme recognises the importance of the visitor economy to Tasmania and will particularly assist businesses in this sector to improve tourism offerings within Tasmania, to build business resilience and capacity to adapt to a significantly disrupted and uncertain business environment.

The minimum loan amount is $20 000 and the maximum loan amount is $3 million.

The scheme opened for applications on Monday 14 September 2020 and will close Wednesday 14 September 2022, or until all funding has been utilised, whichever occurs first.

This scheme also incorporates the Heritage Places Renewal Loan Scheme, the Tourism Refurbishment Loan Scheme and the Regional Tourism Attraction Loan Scheme.

To apply for a loan:

  1. Read the guidelines and consider the eligibility criteria.
  2. Discuss your lending requirements with your bank to determine if your bank is able to fund, or partly fund (i.e. a co-contribution) the planned expenditure or project.
  3. Discuss your proposal with your financial or business advisors.
  4. Contact Business Tasmania at or on 1800 440 026 if you have any questions regarding this scheme.
  5. Complete your application at this link.
  6. Businesses planning to undertake works on places permanently entered on the Tasmanian Heritage Register are expected to have discussed the proposed project or expenditure with Heritage Tasmania as part of the application process.