Deferred bank loan repayments
Updated July 2020 - the six-month loan payment deferral period is coming to an end
On 20 March 2020, banks announced they were deferring repayments for six months on small business loans up to $3 million. On 30 March they announced that they were extending this assistance to loans up to $10 million.
In July, the banks announced an extension of four months may be available for businesses that are still struggling due to COVID-19. These loan extensions are not automatic and businesses need to talk to their banks about what support is available.
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