We’ve introduced a number of steps to assist you to receive the right support if you find your business in financial difficulty.
- With the agreement of your business, we will try to help you overcome your financial difficulties with the loan/s with us.
- We will respond promptly, courteously and sympathetically to any requests for assistance from your business.
- We will take into account the information available to us, including the information your business provides to us, about your financial situation to determine work out how we can help you.
- We will always inform your business of our decisions and the reasons for our decisions, as well as the agreed arrangements for any assistance we provide.
- If your business is facing hardship some of the steps we may take to help include:
- deferred payments
- interest capitalisation
- interest only on term loans
- extension of loan terms
- waiving of Term Deposit Interest Adjustments (Break Fees) to access deposit funds prior to maturity
- free business Health Check
- maintaining existing interest rate margins
- waiving Merchant Rental for up to 12 months
- review Merchant Service Fee pricing
- waiving Account Keeping Fees for up to 12 months on your Business transaction account
When determining which of these options maybe suitable, we will take full account of your business’ circumstances. We will also inform your business of the detail of any deferred repayments obligations, including repayment amounts and timing.
Please note that we will not always be in a position to assist, particularly if there is evidence that the business will not be viable in the longer term, and ultimately unable to meet its commitments beyond the period of business financial hardship assistance.
If you have any questions about applying for Business Financial Hardship Assistance, please contact your local Relationship Manager or phone us on 1800 225 223.