fbpx
Skip to main content
New Financial Assistance Hub

Coronavirus Assistance Available

14 February 2020

Help on offer for small businesses financially affected by coronavirus  


Australian small businesses financially impacted by the spread of the coronavirus are being urged to contact their bank to access assistance on offer which can include deferred loan payments, waiving fees and restructuring loans.   

Australian Banking Association CEO Anna Bligh said any small business should not tough it out on their own if they are financially impacted by the effects of the coronavirus. 


“Any business financially impacted by the effects of the coronavirus, such as tourism operators, growers and exporters of fresh produce and those reliant on international education should contact their bank to access the assistance on offer.”

Anna Bligh, ABA CEO

“Thousands of businesses have had a horror start to the year with drought, bushfires and floods. Now the coronavirus having a severe impact on both their ability to create products and also export them to markets overseas,” Ms Bligh said.  

“Banks have hardship teams in place to walk businesses through the assistance on offer if they have been impacted by events outside of their control. 

“Any business financially impacted by the effects of the coronavirus, such as tourism operators, growers and exporters of fresh produce and those reliant on international education should contact their bank to access the assistance on offer,” she said.  

The type of assistance offered will depend on individual circumstances, but can include: 

  • A deferral of scheduled loan repayments 
  • Waiving fees and charges 
  • Interest free periods or no interest rate increases 
  • Debt consolidation to help make repayments more manageable. 

Get details of your bank’s hardship team.

ENDS 
Contact: Rory Grant 0475 741 007 

Latest news

1 / 3
Transcript
Press conference: Scam-Safe Accord launch 
24 November 2023

Australian Banking Association CEO Anna Bligh:   Today Australia’s banking system is coming together to launch the most comprehensive set of new anti-scam reforms.   With a level of unprecedented cooperation, banks, commercial banks, building societies, credit unions, and mutual banks have joined together to commit to a set of anti-scam reforms to keep Australians and their… Read more »

Read more
Media Releases
Banks unite to declare war on scammers  
24 November 2023

Australian banks have joined forces to launch a new Scam-Safe Accord to deliver a higher standard of protection for customers and put scammers out of business in Australia.   This Accord, between Australia’s community owned banks, building societies, credit unions and commercial banks is a comprehensive set of anti-scam measures across the entire industry.  “This Scam-Safe… Read more »

Read more
Media Releases
Banks step up to fund financial counselling services  
21 November 2023

Banks will contribute $19 million over three years to the Government’s voluntary financial counselling model announced today by Minister for Social Services, Amanda Rishworth.   “Banks large and small are proud to be funding the lions share of this initiative.” said ABA CEO Anna Bligh.   This funding will help increase the availability of free, independent counselling… Read more »

Read more