News Flash: Support for Small Business borrowers

Six-month deferral of all loan repayments for small business.

In a major announcement today, the Australian Banking Association (ABA) has announced a relief package for all small businesses hit by the coronavirus pandemic.

Anna Bligh (ABA chief executive) said "Small business can rest assured that if they need help they will get it".

Key points of the announcement are:

  • Repayment of $100 billion in small business loans put on hold amid coronavirus outbreak
  • The Banking Association expects that will put $8 billion back in small business' pockets
  • Banks will consider home loan relief measures if households enter mortgage stress

For more details of the announcement, click here:…/coronavirus-banks-custome…/12073930

If any business owner needs help, please contact us.

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