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IR Warns: Repay Cashflow Loans by May 12!

5/18/2025

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Summary

Story summary

Inland Revenue (IR) is sounding the alarm for businesses with Small Business Cashflow loans: repay by May 12 or brace for a hefty 10.88% default interest. Since its launch in May 2020, the scheme has disbursed $2.4 billion, but now 14,300 loans are in default, racking up a staggering $242 million. IR urges borrowers to explore repayment options before it's too late.

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Story summary

Inland Revenue (IR) is sounding the alarm for businesses with Small Business Cashflow loans: repay by May 12 or brace for a hefty 10.88% default interest. Since its launch in May 2020, the scheme has disbursed $2.4 billion, but now 14,300 loans are in default, racking up a staggering $242 million. IR urges borrowers to explore repayment options before it's too late.