TAIPEI (Taiwan News) — The Central Bank announced it was doubling the maximum amount for loans under a COVID-19 relief program for small businesses to NT$1 million (US$35,700), effective Thursday (June 24).
The program, launched in April last year, attracted 131,200 applicants by June 21, 2021, CNA reported. The total NT$62.36 billion in loans has helped numerous small business owners survive the worst of the coronavirus pandemic.
The raising of the loan ceiling from NT$500,000 to NT$1 million followed the government’s announcement that the current Level 3 COVID alert would be extended from June 28 until at least July 12.
Businesspeople who have already obtained loans capped by the old maximum limit are welcome to apply again if they need more funding. However, the total must be below the new ceiling, the Central Bank said.
The beneficiaries have included a considerable number of small food and drink operators, sellers of farm products, and clothing retailers, according to officials. The Central Bank also called on commercial banks to shoulder the social responsibility and help small businesses weather these difficult times.