This follows an earlier commitment to provide $8 billion in new lending to small and medium sized businesses throughout 2009.
ANZ will support small business customers who are experiencing financial difficulty by:
- Providing easy access to our dedicated specialists, who are trained to help small business customers experiencing financial difficulty, through our toll free hotline 1800 252 845.
Considering tailored solutions on a case-by-case basis including:
- deferred or reduced repayments for periods of up to 12 months (with interest capitalised into the loan)
- fee waivers
- repayment extension periods
- temporary adjustments to customer lending limits including business credit cards and overdrafts.
ANZ also employs small business specialists who are available to help small business owners plan for their future. They can be accessed face-to-face at any branch Australia-wide or over the phone.
ANZ Group Managing Director Commercial, David Hisco said: “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,” Mr Hisco said.
The small business support package builds on ANZ’s support measures for individual customers who are suffering financial hardship.