6-Month Deferral

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seller

Westpac Banking Corporation verified provider

Finance, insurance and banking services

Sydney, New South Wales 2000 Australia

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Business Management & Admin

Westpac: Business Loan Repayment Deferral

Summary

Eligible Westpac business customers who need help with managing their cash flow can defer principal and interest payments of business term loans, equipment finance facilities and equipment loans, for six months. Eligibility for payment relief The deferred payment period applies to eligible business connections impacted by COVID-19: with total business exposure of less than $10 million per customer group; and includes commercial property customers, who commit to supporting their tenants throughout the six-month period payment deferral period by ensuring that tenants affected by COVID-19 can continue to operate from their premises even if they are unable to pay their rent; where the business is operated in Australia with less than 20% foreign ownership; and for those customer's above $3 million total business exposure, with current facilities that have not been in arrears in the last 90 days. Please note that: interest deferred will be capitalised: any current fixed rate period will also be extended by 6 months at that fixed term rate; and your loan term will be extended by at least 6 months. Contact your Relationship Manager or apply online.
Eligible Westpac business customers who need help with managing their cash flow can defer principal and interest payments of business term loans, equipment finance facilities and equipment loans, for six months.

Eligibility for payment relief
The deferred payment period applies to eligible business connections impacted by COVID-19:
  • with total business exposure of less than $10 million per customer group;
  • and includes commercial property customers, who commit to supporting their tenants throughout the six-month period payment deferral period by ensuring that tenants affected by COVID-19 can continue to operate from their premises even if they are unable to pay their rent;
  • where the business is operated in Australia with less than 20% foreign ownership;
  • and for those customer's above $3 million total business exposure, with current facilities that have not been in arrears in the last 90 days.
Please note that:
  • interest deferred will be capitalised: any current fixed rate period will also be extended by 6 months at that fixed term rate;
  • and your loan term will be extended by at least 6 months.
Contact your Relationship Manager or apply online.
Westpac: Business Loan Repayment Deferral Westpac: Business Loan Repayment Deferral P463 https://www.savvysme.com.au/marketplace/images/detailed/1/blob_8v9j-t9.png 0.000000 2020-07-11