Banks are now allowing a 6 month deferral on small business loan repayments as a result of the Coronavirus outbreak. The Australian Banking Association chief executive Anna Bligh advises that small business owners should contact their bank now to apply for the deferral. The central bank is also setting up a $90 billion term funding facility specifically for small business clients. Now is not the time to be proud, if you are struggling in your business then please reach out for the help that is being offered. Full story can be read in the link below.
https://www.accountantsdaily.com.au/business/14161-banks-to-defer-small-business-loan-repayments-for-6-months?utm_source=Accountants+Daily&utm_campaign=21_03_20&utm_medium=email&utm_content=1&utm_emailID=c0f3478d376245b1ff05a695f01fbdb49f42f8e2e369799f58fabda77f2adf97&fbclid=IwAR1tKRjvC5aO2bTbmxkvwwpSgRuS1EtMJyeKHafLqPoT9mIL7I36PdAkyX8