COVID-19 Hardship Contact Details


Find all the helpful resources to help you reduce the impact on your business due to COVID–19

 

Messages from Senator the Hon Michaelia Cash

30 April 2020 I Covid Safe App A Key to Opening a Business

16 April 2020 | March Labour Force Figures, Update on Social Distancing Restrictions, National Principles for Schools

07 April 2020 | Update on Commercial Tenancies

03 April 2020 | Commercial Tenancies, Launch of Jobs Hub, Relief Package for Early Childhood Education 

30 March 2020 | Supporting Businesses to Retain Jobs, Jobkeeper Payment

24 March 2020 | Government Support for Businesses and Hoseholds impacted by COVID-19

 

Small Business Relief

Australian banks will defer loan repayments for small businesses affected by COVID-19 for six months.


If your small business has been impacted by the coronavirus pandemic and lock downs, contact your lender.

Australian lenders have hardship teams ready to help. If you’re dealing with the impact of the COVID-19 pandemic, or drought, bushfire or flood, there are practical ways your lender can help. The type of assistance will depend on individual circumstances.

Assistance can include:

  • A deferral of scheduled loan repayments

  • Waiving fees and charges

  • Interest free periods or no interest rate increases

  • Debt consolidation to help make repayments more manageable.

 

Hardship contact details can be found below

See bank list: here
See non-bank list: here

 

 

Financial Hardship 

 

What are some hardship assistance options?
 

Hardship arrangements cover the time between when your circumstances change and when you can start repaying your debts in full or varied as agreed. In most cases, people just need some temporary help to get them through the tough times.

The arrangements available will depend entirely on your personal circumstances and financial situation. But some measures may include:
•    deferring or reducing loan repayments
•    restructuring and consolidating loans
•    altering loan repayments to interest-only
•    changing limits on lines of credit (e.g. credit card)
•    waiving certain fees and charges
•    waiving penalties for early withdrawal of a term deposit
•    freezing loans in exceptional circumstances, such as after an emergency event or natural disaster
•    providing a moratorium on collections action
•    providing alternative banking arrangements.

When considering the type of assistance that might be appropriate, lenders will assess the situation on a case-by-case basis and consider your specific circumstances.
 


Updated 9 April 2020