The new lending - equivalent to ANZ’s total new lending to SMEs in 2008 - will provide working capital to help businesses with their cash flow needs, support new investments and assist businesses that trade in Asia and around the world.
ANZ Group Managing Director Commercial, David Hisco, said: “This new lending is designed to help existing and new customers, who have fundamentally sound businesses, manage through the current economic downturn.
“As the economy slows, many small and medium-sized businesses want to know their bank is there to support them and help them to grow.
“Australia has around 2 million small and medium sized businesses. The vast majority of those businesses are well managed and in a sound financial position. ANZ has the financial strength and commitment to support these business customers through the good times and the more difficult times.
“By maintaining lending we can play our part in ensuring a strong small and medium sized business sector and supporting economic growth and employment in Australia,” Mr Hisco said.
Small to medium sized businesses interested in finding out more about how ANZ can help should contact their nearest ANZ branch or call 1800 801 485.