Reply To: Hi Experts, I run a small travel agency and have been in touch with you on this platform before (you are amazing!) I have just found out about the new loan scheme our govt is putting in place. This govt loan scheme would be extremely beneficial to me at this time, as I am struggling and have business expenses that have almost eaten up my personal funds now..As we know, travel is not going to pick up to capacity for some time. And, even when it does, I will be competing with the big dogs like Flight Centre & House of Travel, which despite my relationships with customers & my reputation – this will have an impact on the business I am gaining, as my buying power is minimal in comparison & as we know, as times like this.. price is key. So, therefore, I have started looking at doing some study to further educate myself whilst running the business to the best of my ability with the enquiries I do have / will have slowly coming in over time.. My question is though, am I entitled to this loan for my business, whilst I am also looking at getting a student loan to fund my way through education? Or in a reactive context, will I still be eligible for a student loan, if I have opted to apply for this govt loan and then I am approved?As I mentioned, I could really utilise this loan option to keep my business alive, but at the same time, I don’t want to hurt myself if this will affect getting a student loan or vice versa. I so look forward to hearing from you. Best, Soleil. 


Hi there – so the ‘statement’ that you need to make when requesting the loan is much like the wage subsidy. First, that you have suffered in revenue terms from the impact of Covid-19 and secondly that you still believe you have a viable business going forward. This 2nd point might be a relevant topic for you to reflect on – is the money being directly used to support and run the business, or is it being used to cover expenses while you look for a new business? I would wait for the criteria to come out – or maybe look at the wage subsidy criteria as that will tell you much of what you are going to be asked to certify. Good luck. Andy

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