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The scheme was set up in response to the pandemic to help small- to medium-sized firms access up to $5 million of credit for cashflow, capital assets and various other projects.
The lending was administered by retail banks but 80 percent of the total size of the loan was guaranteed by the Crown.
As of 22 June, $2.8 billion had been lent to 3363 borrowers.
BusinessNZ chief executive Kirk Hope said the scheme had been useful for firms but it was not without its challenges.
"In the early days of the scheme, banks and government were still negotiating terms and it wasn't particularly clear to borrowers whether they will be able to access it," Hope said.