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Support During Covid-19

Commercial Landlord Relief Package

Australia’s banks are offering six month deferral of loans to commercial landlords

About the package

Businesses (including not-for-profits) with total business loan facilities of up to $10 million (up from $3 million) can defer business loan repayments for six months. 

This rise from $3 million to $10 million marks an extension in support which will apply to an additional $100 billion of business loans. 

During COVID-19 banks have also agreed to not enforce business loans for non-financial breaches of the loan contract (such as changes in valuations).  

The new measures will apply in all sectors of the economy, and on an opt-in basis, under the conditions that:  

  • For commercial property landlords, they provide an undertaking to the bank that for the period of the interest capitalisation, they will not terminate leases or evict current tenants for rent arrears as a result of COVID-19 
  • the customer has advised that its business is affected by COVID-19  
  • the customer was current in terms of existing facilities 90 days prior to applying 
  • interest is capitalised – meaning either the term of the loan is extended, or payments are increased after the deferral period. 

This measure is designed to help protect many thousands of small businesses (including not-for-profits) from being evicted, if they are struggling to pay the rent, as it covers approximately 90% of commercial property owners (including not-for-profits) who have loans with an Australian bank.   

The type of businesses this applies to includes commercial (and not-for-profit) landlords of properties such as local shopping centres, pubs, clubs and restaurants, who must agree not to terminate leases or evict current tenants for rent arrears due to COVID-19 in order to access support.  

Businesses (including not-for-profits) with total loans of more than $10 million may also be eligible for relief, but this will need to be considered on a case by case basis as they are often much more complex in their structure. 

Banks have developed this relief package following discussions with APRA and ASIC to provide the appropriate regulatory treatment.

FAQs

Yes. Banks are offering loans at very low interest rates, supported by the Government, through an SME Loan guarantee. Your business would still need to meet certain lending criteria set out by your bank.

Banks don’t report information to credit bureaus about small business customers.

Find your bank

Select your bank to find out more about their individual relief packages
AMP

Phone: 1300 130 191
Hardship Assistance: Website

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ANZ

Phone: 1800 351 548
Financial Hardship: Website

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Arab Bank Australia

Phone: 1800 64 64 84
Hardship Assistance: Website

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Bank Australia

Phone: 132 888
Hardship Assistance: Website

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Bank of Melbourne
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Bank of Sydney

Phone: 13 95 00
Hardship Assistance: Website

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BOQ Group

Phone: 1800 079 866
Hardship Assistance: Website

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Bank SA

Phone: 1800 679 461
Hardship Assistance: Website

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Bankwest

Phone: 1300 769 173
Hardship Assistance: Website

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Bendigo and Adelaide Bank

Phone: 1300 652 146
Hardship Assistance: Website

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Citi Bank

Phone: 1300 652 146
Hardship Assistance: Website

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Commonwealth Bank

Phone: 1300 720 814
Hardship Assistance: Website

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HSBC Bank

Phone: 1300 555 988
Hardship Assistance: Website

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ING Bank

Phone: 1300 349 166
Hardship Assistance: Website

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Macquarie Bank

Phone: 1300 363 330
Hardship Assistance: Website

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Me Bank

Phone: 1300 500 520
Hardship Assistance: Website

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MyStateBank

Phone: 13 800 1
Hardship Assistance: Website

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NAB

Phone: 1800 701 599
Hardship Assistance: Website

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Rabobank

Phone: 1800 025 484
Hardship Assistance: Website

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Rural Bank

Phone: 1300 660 115
Hardship Assistance: Website

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St. George Bank

Phone: 1800 629 795
Hardship Assistance: Website

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Suncorp

Phone: 1800 225 223
Hardship Assistance: Website

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U Bank
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Westpac

Personal: 132 032
Small Business: 132 142

Hardship Assistance: Website

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Support During Covid-19
Support During Covid-19

We’re here to help

Australian banks are open and here to help all their customers in this time of financial hardship.

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