Key points

  • Loans deferred for 6 months
  • Repayment Holidays
  • Options to switch to interest only loans
  • All small businesses are eligible

the Australian Banking Association throws a life line to small businesses affected by the Coronavirus outbreak and will affect up to 100bn in loans saving small business up to 8bn over the next 6 months.

All small businesses are eligible for this package and your bank will contact you, but if your in urgent need it’s advisable to call your bank immediately and register for this life line which could be available as soon as Monday.