How banks are extending their support.
20 July 2020
The ABA welcomes today’s announcement by the Morrison Government to extend the Coronavirus SME Guarantee Scheme.
“This will be welcome news for SMEs and opens up the scheme to those business who are looking to invest or need some extra support to get back on their feet”, said ABA CEO Anna Bligh.
“The banking industry will continue to work with the government ensuring the flow of credit into the economy and supporting those businesses who are still feeling the effects of the pandemic.”
ABA CEO Anna Bligh
“The banking industry will continue to work with the government ensuring the flow of credit into the economy and supporting those businesses who are still feeling the effects of the pandemic.”
SME Guarantee loans can now be larger, longer term and for a wider range of purposes. The initial phase of the Scheme remains available for new loans issued by eligible lenders until 30 September 2020. The second phase of the Scheme will start on 1 October 2020 and will be available until 30 June 2021.
Key October 1 changes to the SME Loan Guarantee include:
• Loans can be for a wider range of investment, beyond working capital
• Secured lending now permitted (excludes commercial or residential property)
• Maximum loan size increased to $1 million (from $250,000 per borrower)
• Maximum loan term now five years (from three years)
• Lenders can now offer a repayment deferral period.
Latest news
Transcript
ABA CEO Interview on ABC Melbourne with Ali Moore
Read more
31 October 2025
E&OERadio InterviewABC Melbourne with Ali MooreThursday, 30 October 2025. Topics: Crypto ATMs; scams; cash access. Ali Moore (Host): So now there are calls to ban the ATMs to try and end the scams. Simon Birmingham is the CEO of the Australian Banking Association. Simon, hello, Simon Birmingham (Guest): Hello Ali, great to be with you… Read more »
Media Releases
Mid-sized banks set to benefit from APRA’s move to streamline IRB accreditation
Read more
23 October 2025
The ABA welcomes APRA’s proposals to make the internal ratings-based (IRB) accreditation process simpler and more transparent, giving mid-sized banks a competitive boost. ABA CEO Simon Birmingham said the changes would support competition and deliver better outcomes for customers. “This is a practical and sensible pro‑competition step from APRA,” Mr Birmingham said. “When fully implemented,… Read more »
Transcript
ABA CEO interview on Sky News Afternoon Agenda with Cheng Lei
Read more
17 October 2025
E&OEInterview on Sky News with Cheng Lei Cheng Lei: Australian banks closed 155 branches over the last year, but the rate of closures has slowed. For the implications, let’s bring in Australian Banking Association Chief Executive and former Liberal Minister Simon Birmingham. Mr Birmingham, welcome to the show – great to talk to you in… Read more »