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House of Assembly - Fifty-Fourth Parliament, First Session (54-1)
2019-05-01 Daily Xml
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Future Jobs Fund Program

656 The Hon. S.C. MULLIGHAN (Lee) (27 February 2019). How many loans were approved as part of the Future Jobs Program?

1. What were the details of each loan provided under the Future Jobs Fund, including interest rates and terms? (identification of the recipients is not required)

The Hon. S.S. MARSHALL (Dunstan—Premier): I have been advised:

The Future Jobs Fund (the Fund) included $70 million in funding for low interest loans.

The former government approved twenty (20) loans totalling $36 million to assist fund projects that were eligible to receive loans from the Fund.

Of the 20 loans that were eligible under the Fund, six are not proceeding (with a value of $9 million) and six are currently in negotiation (with a value of $13 million).

The details of the eight loans that have been executed to date ($14 million) are as follows:

Loan Amount Interest Only Period (months) Principal and Interest Period (years) Term (years) Interest Rate Disclosed on SA Tenders and Contracts
$2,500,000 24 3 5 2.89% p.a. Y
$286,000 7 7 2.85% p.a. Y
$3,000,000 5 3.6 4 2.57% p.a. Y
$1,500,000 12 6 7 2.90% p.a. Y
$3,000,000 36 4 7 3.25% p.a. Y
$1,000,000 11 6 7 To be set at drawdown Y
$1,600,000 5 5 2.06% p.a. Y
$1,000,000 12 6 7 To be set at drawdown In progress


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