ANZ has expressed approval for the Federal Government's decision to extend its SME Recovery Fund, aimed at assisting those impacted by recent floods in New South Wales and Queensland. Starting April 1, small and medium-sized businesses in these areas can access low-cost funding, regardless of their participation in JobKeeper during the March quarter.
Isaac Rankin, ANZ Managing Director of Commercial and Private Banking, stated: “These floods came at a really difficult time as many businesses had already been reeling from the effects of the global pandemic." He added that "the extension of the government’s fund, along with financial assistance measures from banks such as ANZ, will provide useful support for a number of businesses as they recover from these devastating floods.”
Earlier this month, ANZ introduced a support package for communities affected by the floods, offering various financial relief measures.