Josh Frydenberg explains latest help for small business

The federal government is again extending its small business COVID-19 recovery scheme.

Treasurer Josh Frydenberg said the loans scheme would run for a third time.

An expected 24,000 small businesses – across a range of sectors – could take up the loans, capped at $5 million.

“It’s not free money,” he said.

“It’s money that has to be paid back, but what it enables businesses to do is back themselves, grow, hire and innovate and that’s going to be really important as part of this recovery.”

Press PLAY below to hear him explain