The government is encouraging banks to lend to small business . They can only be for a maximum of $250,000 with a 6 month repayment holiday. Most banks have released their own assistance. For a summary of the offers s
We would suggest contacting your bank through either their online forms or over the phone to start the communication with them about your individual circumstance
CBA - check more info our here
Reducing commercial interest rates by 0.25
Extended hours for lending teams for faster decisions
Deferring repayments on a variety of business loan and overdraft products, for 90 days.
Waiving merchant terminal fees for impacted customers with CBA payment terminals, for 90 days.
Waiving early redraw fees on business term deposit accounts (including Farm Management Deposit accounts).
Waiving establishment fees and excess interest on Temporary Excess products.
Deferring repayments on vehicle and equipment finance loans, and providing tailored restructuring options that meet individual customer needs.
ANZ - check more info our here
Suspending interest repayments
Providing early access to term deposits without incurring break fees
Providing access to additional credit subject to approval
NAB - check more info out here
Deferral of business loan repayments for up to three months, assessed on a case-by-case basis
Extension of a business loan term by a period of up to three months, where individual circumstances warrant
Support to restructure existing business loans, including equipment finance
Business credit card deferred repayments
Westpac - check more info our here
Deferring repayments for 3 months
Bendigo - check more info out here
Home Loan and Business Loan customers can apply for relief on loans for up to three months
Waiver of fees for the restructuring or consolidation of loans
Credit card customers can apply for an emergency credit card limit increase
Discounted interest rates on new personal loans taken out by existing Bendigo Bank customers
Waiver of interest rate reduction for early withdrawals on term deposits prior to maturity
Deferral of payments and extensions for Equipment Finance on a case by case basis