Support for businesses during COVID-19
We know the COVID-19 pandemic is putting stress on many of our business customers. This page shares what we’ve put in place to support your business.
If you have business accounts or loans with us, it’s really important that you get in touch with us - even if you’re not yet directly affected. We’re ready to work with you to make a plan that’s tailored to your business to help you through this difficult period.
Just call us on 132 888, 8am-8pm Monday to Friday and 9am-2pm Saturday.
Here's some of the ways we're helping
Reducing variable rates
We've reduced many variable rate business interest loans by 0.25%. This will be automatic, you don’t need to do anything.
We've waived the $8 monthly fee for commercial access accounts until 31 August 2020. This will be automatic, you don’t need to do anything.
The SME Guarantee Scheme^
With the support of the Australian Government, our business and community customers can apply for a Commercial Assistance Loan of up to $250,000**. This loan is design to assist your business with the economic impacts of COVID-19 and to help you retain staff.
With the Commercial Assistance Loan, the Australian Government will provide a 50% guarantee to help you meet your operating requirements during the term using the Coronavirus SME Guarantee Scheme.
To be eligible, you need to tick a few boxes.
You need to be:
A business customer with an ABN.
Small to medium sized businesses (‘SME’), community group or not-for-profit with annual turnover less than $50 million.
Applying to Bank Australia only for a scheme loan amount not exceeding $250,000.
Approved unconditionally by 30 September 2020. That’s because these loans have limited allocation.
To apply for this loan, please register your interest and we’ll let you know the information we need from you.
Read more on the Government’s Coronavirus SME Guarantee Scheme.
State and Territory Government business support
For more information on business support offered in your State/Territory:
Northern Territory nt.gov.au/support-for-business
South Australia business.sa.gov.au/COVID-19-business-information-and-support
Western Australia wa.gov.au/covid-19