More firms to take up boosted COVID-19 loans

Matthew Cranston and Tom McIlroy

Jul 20, 2020 – 2.56pm

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More businesses are expected to take up the federal government's cheap guaranteed loans after terms were improved and eligibility expanded, but almost 50 per cent of firms say they will cut staff if JobKeeper is taken away.

However, a tapering of the $70 billion employment assistance program will mean more businesses will be dependent on help to keep them from cutting staff or closing.

Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor.

Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent.