Australian small businesses to get loan relief amid COVID-19 outbreak

Australia's banks will allow small businesses, which are expected to be hard hit by the economic impact of the coronavirus, to defer loan their repayments.

Banking Association CEO Ana Bligh

Banking Association CEO Ana Bligh speaks to the media (AAP ) Source: AAP

Small businesses impacted by the coronavirus crisis will be able to defer their loan repayments for six months under a plan put forward by the banking industry.

"This is a multi-billion-dollar lifeline for small businesses when they need it most, to help keep the doors open and keep people in jobs," Australian Banking Association chief executive Anna Bligh said on Friday.

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A Westpac outlet in Sydney.
AAP


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1 min read
Published 20 March 2020 3:39pm
Updated 20 March 2020 3:42pm
Presented by Yang J. Joo
Source: AAP, SBS


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