The NSW Government is injecting a further $100,000 to help foster small business growth in the State and expand its micro-enterprise credit program in 2010. The micro-loan program for small businesses will also expand from two to six regions.

Minister for Small Business, Peter Primrose, said at the launch of the expanded scheme that "This is a great program for entrepreneurs with low income and little or no security to get access to affordable business capital up to $20,000."

The National Australia Bank partners the program. It has committed more than $100 million in credit to expand the program. The loans have supported 136 businesses so far with about $1.9 million currently on loan.

The Government has committed an additional $100,000 to top-up the loans to support recipients with training, business planning and mentoring.

Currently, small businesses in the Hunter and Macarthur regions can access the program. From 2010 the program will be extended to Wagga Wagga, Orange, the Central Coast and Parramatta through local Business Advisory Services (BASs).

Businesses eligible for loans received further in-kind support from the Government to the value of about $1,200, which was matched by NAB. This means eligible small businesses can get assistance worth up to $2,400, on top of their loan, towards practical services to help develop their business skills and grow their enterprise.

The micro-credit program was the winner in the Best Socially Responsible Product category of Money Magazine’s Best of the Best Awards in 2008 and 2009.

For more information

Eastern Suburbs Business Enterprise Centre
Level 19, 323 Castlereagh Street, Sydney NSW 2000.
City 02 9089 7606
Blacktown 02 9687 6944
Bondi Junction 9089 7606
www.clearlybusiness.com.au

Macarthur Business Enterprise Centre
Level 8, 171-179 Queen Street Campbelltown NSW 2560
Liverpool 02 9821 1922.
Smeaton Grange 02 46475481
www.macarthurbec.com.au

Central Coast Business Enterprise Centre
Unit 8.2, First Floor, Zenith Business Centre, 6 Reliance Drive, Tuggerah Business Park NSW 2259
Tuggerah 02 4355 4885
www.centralcoastsmallbiz.com.au

Hunter Business Centre
265 King Street, Newcastle West NSW 2302
Newcastle 02 4925 7700
www.businesscentre.com.au

Central West Business Enterprise Centre
144 Lords Place, Orange, NSW 2800
Orange 02 6362 0448
www.becbiz.com.au
www.centralwest.biz

Riverina Business Enterprise Centre
66-70 Coleman Street, Wagga Wagga NSW 2650
Wagga Wagga 02 6925 6588
www.waggabec.com.au