A Small Business Relief Package has been agreed to for small businesses by Australia’s banks.
Details of the package include:
- Small business loans to be deferred for up to six months;
- Assistance package will apply to more than $100bn of existing small business loans;
- The ABA claim this could put as much as $8 billion back into the pockets of small businesses;
- A fast track approval process for further funding to ensure customers receive support as soon as possible.
Small business owners who haven’t been contacted by their bank can call their bank directly to apply. Most banks have updated their websites to provide links and phone numbers to use for the relief process.
If you or your clients need any assistance, please follow this link and ask for a free consultation.