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CommBank digital feature makes it easier for businesses to navigate Covid support
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Westpac outlines assistance for customers impacted by Queensland lockdowns
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NAB welcomes government support for VIC & NSW
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Westpac offers SME COVID cash flow support
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Westpac
Westpac has today announced a new measure to support existing small business customers with their cash flow needs, if revenue has been significantly reduced because of the latest lockdown restrictions.
From Monday 19 July 2021, Westpac will offer eligible existing small business customers interest free temporary overdrafts up to $15,000 on a maximum 45-day term, designed to help bridge the gap to government assistance.
Westpac CEO Peter King said: “We know that the current lockdowns mean some of our small business customers may need urgent access to cash. We have introduced a new interest free overdraft to act as a bridge to when government payments flow-in, helping small business owners to cover urgent expenses during this time.