ANZ targets $2 billion in new lending to support small business expansion and economic growth
ANZ today announced it would make available a further $2 billion in lending to small businesses over the next 12 months to support Australian enterprise and economic growth.
The additional lending will be supported by ANZ’s range of small business solutions developed as part of the Banking on Australia program. This includes business transaction accounts, merchant products such as ANZ FastPay and financial planning advice as well as international solutions such as foreign exchange and trade finance.
ANZ General Manager Small Business Kate Gibson said: “Small business is the life-blood of the Australian economy. We want those thinking of starting a new venture or expanding their existing business to know that we’re committed to backing them.
“We hope our commitment to make available a further $2 billion in lending this year can provide a further boost to the economy and support the creation of new jobs.
“Last year we approved seven out of every ten applications from new small businesses lending a further $1 billion to the sector.
“By doubling our lending pledge, we want to send a strong message to small business owners that our team of small business specialists are ready to help with our full range of banking solutions,” Ms Gibson said.
ANZ also provides customers with access to the resources and information needed to apply for lending via ANZ Small Business Hub. Customers also have access to real time sales data through ANZ Business Insights to help identify new growth opportunities.