Australian Banking Association: Six Month Deferral of Loans

The Australian Banking Association has announced Australia’s banks will extend the six month deferral of loans, building on the ABA’s Small Business Relief Package, to 30,000 more businesses across the country. This support now extends to 98% of all businesses with a loan from an Australian bank. Businesses with total business loan facilities of up to $10 million (up from the $3 million small business threshold) will now be able to defer repayments for loans attached to their business for six months. These businesses are generally much larger and employ a greater number of people.

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