ANZ has today announced they are extending their support to small business, providing specialist assistance to small businesses experiencing difficulties in the current climate.
This follows on from Small Business Minister Craig Emerson’s call to the big banks to support small business by providing adequate credit flows.
The new ANZ program will support small businesses experiencing financial difficulty by providing easy access to dedicated specialists, along with tailored solutions to each business including deferred or reduced repayments for periods of up to 12 months (with interest capitalised into the loan), fee waivers, repayment extension periods and temporary adjustments to customer lending limits including business credit cards and overdrafts.
ANZ Group Managing Director Commercial, David Hisco said it is important for small businesses to know that they are supported by their bank.
“The vast majority of Australia’s small businesses are well-managed and in a sound financial position. But as the economy slows, small business operators want to know that their bank is ready to support them and will continue to help them grow.
“Maintaining lending to sound businesses is key but we also want to be in a position to work closely with small businesses who are managing through difficult circumstances.”
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