The scheme has been expanded and extended so that eligible businesses affected by the COVID-19 pandemic with a turnover of less than $250 million can access loans of up to $5 million for terms up to 10 years at historically low rates.
Eligible businesses no longer need to have received JobKeeper during the March quarter, or to have been flood-affected to qualify for the support.
ANZ is ready to help customers progress applications to access finance through the expanded recovery loan scheme with an anticipated drawdown date from October.
ANZ Managing Director Commercial and Private Banking, Isaac Rankin said: “We remain committed to helping small and medium sized businesses with many of them continuing to face challenges from ongoing COVID-19 restrictions.
“These changes to the scheme’s eligibility will provide many more businesses with access to financing solutions that will help them rebound from the economic impact of the pandemic.”
“Small and medium businesses are an essential part of the Australian economy and these loans will help them make investments to drive growth and create jobs.”
ANZ continues to support customers impacted by COVID-19 through a range of support and relief measures.
All customers who need assistance should contact ANZ to discuss their specific needs. More information, including contact details can be found at anz.com/covid-19