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Epicorp Low Interest Loans for Entrepreneurs

The Epicorp Development Loan Fund (EDLF) is designed to assist with the costs of business development and growth for those businesses not in a position to take on bank debt or not seeking equity investment.

The EDLF provides a limited number of low interest rate loans to eligible companies seeking to grow or further develop their existing business. The program also provides loan recipients with access to some mentoring and networking opportunities.

Loans of up to $20,000 are available to eligible companies. The loans will attract a 5 percent flat interest rate and will be repayable in no more than two (2) years. The loans are unsecured, but evidence must be provided that the loans can be serviced from current and future business income.

The program has awarded its first two loans:

  • Gil Miller has just been successful in securing funding for his City Precincts project, a platform for users to gain an understanding of Canberra as a unique city and for businesses to effectively promote themselves at an affordable price to a targeted audience.
  • George Maclean-Azumah from MedConnet has also been successful in securing a loan. MedConnet allows health practitioners to securely document each consultation, prepare treatment plans and ongoing monitoring regimes. Available as a mobile app for patients and a web version for health practitioners it provides an easy way to manage post-consultation care with patients.

To be eligible for an EDLF loan an applicant must:

  • Be an established company in the ACT and surrounding region (with an ABN/ACN).
  • Have an existing product or service.
  • Have the agreement of all shareholders and board members if required, to take on the loan.
  • Be able to support the loan without imposing undue stress on the business.
  • Have an annual turnover of less than AUD$1m and cannot obtain traditional debt financing and are not seeking equity investment at this stage.

For application and more eligibility requirements please visit here.

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