ANZ has announced its support for the Federal Government's expanded recovery loan scheme aimed at assisting small and medium-sized businesses during the COVID-19 pandemic. The updated scheme no longer requires businesses to have received JobKeeper assistance in the March quarter or to have been affected by floods.
The initiative continues to provide eligible businesses, with a turnover of less than $250 million, access to loans up to $5 million at historically low rates. ANZ Managing Director of Commercial and Private Banking, Isaac Rankin, emphasized the ongoing challenges faced by small and medium enterprises due to the pandemic. "We are seeing the ongoing impacts of the pandemic continue to hit small and medium business in particular, so we fully support the Federal Government’s expansion of this important scheme," he stated.
Rankin further noted that more businesses experiencing difficulties could benefit from this support as ANZ prepares to assist customers once details on the expanded rules are clarified. ANZ remains committed to offering a range of support and relief measures for those impacted by COVID-19.
Customers needing assistance are encouraged to contact ANZ directly for tailored support. Additional information is available on their website anz.com/covid-19.