The employees of commonly owned groups of businesses were considered together for loan eligibility.
Generally, commonly owned groups of businesses are where each business has the same owners. It does not matter whether those owners have the same proportion of ownership in each of the businesses.
A business may also be treated as being in the group if it is part of a larger group of businesses as described in the following situations.
- The group has a dominating shareholder or group of shareholders, and the businesses operate together as if they were one.
- The group of businesses is a complex ownership structure where the overall control is centralised, and businesses are in substance one enterprise.
If your business or businesses were part of a commonly owned group with more than 50 FTEs across the group at the time of your application and you received loans, you need to repay the loan as soon as possible.
Last updated:
15 Nov 2024