Senate Economics Legislation Committee (part 2 of 3)
2 June 2026
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Contents updated on 21 Oct 2026
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Senate Economics Legislation Committee Australian Parliament
00:00 - 00:18
Speaker 10
I mean, I think the fund will be in a better position to answer that question because they'll know exactly which institution that you're talking about. I I am advised that that one bank has been oversubscribed, so that is they have made an allocation, and they've had two two... You know, they've hit the... But that...
00:18 - 00:21
Speaker 17
The fund will be able to Yes.
00:21 - 01:32
Speaker 10
Give you much better information about that, and they'll be here momentarily. That... They will be working with each of those banks in order to, to make sure the funds are available for businesses who need them, but there is a commercial arrangement with each of the banks because, you know, we want the... Because banks have that existing relationship with their customers, and so there's more speed, in terms of the process than if the fund was administering those small loans themselves up to $5,000,000 loans. It's about a $180,000,000 in loans provided thus far.
The scheme has been operating for a little bit over five weeks, I think. But secondly, you know, obviously, I'm interested in the question. I'll be interested in the funds answer, and I'd be very happy to, pursue that, question. It's largely been quite successful, but, you know, it's it's a big scheme to deliver at speed. And I wanna make sure if there's been some banks that are oversubscribed, I wanna I wanna understand exactly what's going on, with that, with that particular institution.
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