Backing regional businesses with interest free loans - NSW Nationals

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Backing regional businesses with interest free loans

Small business owners in regional NSW are local champions. They are often our biggest employers, provide training and education for our young workers and support our local clubs and community. 

Because small businesses invest so much in our local communities it is only right that the NSW Government repays that commitment by re-investing in them.

One of the most important things we can do as a government is to make sure we create the right environment for small businesses to grow. 

In Tweed Heads last week I announced a range of new NSW Government-backed loans for small and medium sized businesses to make sure they have the funding they need to expand.

It can often be tough for businesses, especially in regional areas, to access loans through traditional lenders.

That’s where we are stepping in.

The new Regional Growth Loans will provide businesses in regional areas with between $200,000 and $500,000, interest free.  

We took the decision to make our Regional Growth Loans interest free because as a party that represents small businesses we know that with a mixture of hard work, ingenuity and access to finance, regional businesses will thrive.

Last week I met Tweed Heads small business owner Adam Wessel who invited the Member for Tweed Geoff Provest and I to open his new state-of-the-art surfboard manufacturing facility.

Adam started shaping surf boards when he was 16 as a way of making money so he could keep surfing. 24 years later, although he surfs a lot less, his company The Glass Lab is creating new jobs in Tweed Heads, training young apprentices in a new field of surf board manufacturing, and helping to grow his local economy 

Through his own hard work Adam has created a fantastic small business. However, with a bit of help from the NSW Government through a $300,000 loan Adam has been given the leg-up he needed to continue to grow his business.

Through an interest free loan, The Glass Lab will be able to increase the production of surfboards from 7,000 boards annually to 12,000, target new exports markets in Japan and New Zealand and employ 17 new local workers.

Most importantly Adam says with the help from the NSW Government he was able to keep his business in Tweed Heads rather than cross the boarders into Queensland.

If you are a small to medium size business like The Glass Lab in Tweed Heads and are looking for extra finance to grow your business I encourage you to take advantage of our new Regional Growth Loans.

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