Suncorp is offering the following support for eligible small and medium business customers impacted by COVID-19 Up to six-month deferral of principal and interest repayments (interest will be capitalised, and the term of your loan will be extended, unless otherwise advised) Change from principal and interest repayments to interest only repayments for up to 12 months (the term of your loan will be extended) Six-month deferral of instalments on equipment finance facilities (the term of your chattel mortgage or lease will be extended, and on chattel mortgages your interest will be capitalised) Waiving merchant rental and a minimum monthly fee for up to 6 months If you would like to apply for this support, and have less than $3 million in business debt, submit your request online or talk to your relationship manager
To support their business customers through this challenging environment, Westpac is offering an unsecured 3-year term loan up to $250,000 to eligible business customers with a turnover of less than $50M. This offer will be available with a 6-month repayment deferral, with interest to be capitalised. No establishment fees or monthly account keeping fees apply. Other fees and charges may apply. Applications are available between now and 30 Sept 2020 to both existing and new Westpac customers. Who's eligible? In order to apply, your business must meet the eligibility requirements as follows: Businesses with an annual turnover of less than $50 million The business must be a tax resident of Australia that is based, registered and operating in Australia Both existing Westpac customers and new customers are eligible Loans must be used to support current and upcoming cash flow needs Loans must be used for business purposes only Loans cannot be used to refinance drawn facilities with Westpac or any other lender The total sum of your unsecured loans (including those from other financial institutions) relating to COVID-19 relief must not exceed $250,000. How do I apply? If your business has more than $3 million in existing Westpac business lending, contact your Relationship Manager. Otherwise, you can apply in one of the following ways: If you are an existing Westpac customer, you may already be conditionally approved for up to $75,000 in unsecured funds with Business Advance. If this is the case, sign in to Westpac Live Online Banking to apply online. It generally takes less than 3 minutes. Eligibility and credit criteria apply.
Up to $250,000
The NAB Business Support Loan has been designed to help our business customers who’ve been impacted by Coronavirus.With this loan you’ll receive: An unsecured business loan of up to $250,0001.Reduced variable interest rate of 4.50% p.a.Loan term of up to 3 years.No repayment is required for the first 6 months.Principal and interest repayments will apply after this period.No application or loan service fees will apply.Eligibility: This loan is available to new and existing NAB business customers who are small and medium sized businesses with a turnover of less than $50 million.The loan must be for business purposes only and be used to support current and upcoming working capital needs (not for purchase of property or equipment).Please note this cannot be applied to existing NAB loans – this is for new loan applications only.
Up to $250,000
NAB has announced a number of business loan support initiatives to support you with your financial needs during this period. Business Loan Support: Choose to defer your principal and interest payments for up to six months on a range of business loans, including loans with floating and variable rates and equipment finance loans. Automatically receive an additional 100-basis point reduction on variable rates for small business options loans from Monday 30 March 2020. This is on top of a 25-basis point reduction earlier in March. Take out a new unsecured loan of up to $250,000 (lending criteria applies). The new NAB Business Support Loan has no establishment or account fee for a period of up to 3 years. The loan has a variable rate of 4.5% p.a. with no repayments due for 6 months and is available where you and your related business entities have a combined annual turnover under $50 million. For larger business customers, NAB is committed to finding appropriate support on a case by case basis.
Up to $250,000