March 2020

Here’s some promising news for big and small businesses alike: six-month loan deferrals are now available to larger businesses on the condition that they don’t terminate leases or evict tenants for falling behind on their rent due to COVID-19.

This is one article we hope you never have to read. But if COVID-19 has impacted your income to the point where you may need to pause your mortgage repayments, then we’ve broken down the banks’ deferral policies for you.

If your small business is being affected by the coronavirus your loan repayments will be deferred for six months, says the Australian Banking Association (ABA).

The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new record low of 0.50% as the coronavirus outbreak impacts global financial markets.