Help for business customers
COVID-19 support update
The pandemic is continuing to cause disruption for households and businesses across Australia, and our COVID-19 support measures for business customers impacted by the current lockdown have now been expanded.
If your revenue has been impacted by the latest lockdowns, financial assistance for eligible customers is available. This may include:
Temporary overdrafts to help with cashflow
- Interest free temporary overdraft for eligible existing small business customers, up to $15,000 for a maximum of 45 days1.
Repayment deferrals on eligible business, equipment, and auto finance loans
- Defer payments for three months on eligible business loans for small business customers with a total committed exposure of up to $3m – with loan term extensions as required.
Transactional and Merchants
- No Interest Rate Adjustments for early terminations on Term Deposits or Farm Management Deposits for eligible small business customers.
- Merchant Terminal Rental Fee refunds for up to three months for eligible small business customers upon request.
Business Credit Card
- No monthly payments or interest charges on all balances for three months on eligible Business Credit Cards for eligible small business customers.
Contact us to apply for COVID-19 support or to find out more
Ongoing support for customers impacted by COVID-19
To find out more about eligibility and the options available, or to apply for COVID-19 business financial assistance, please contact our team at Business Assist on 1800 067 497.
For more information on COVID-19 support for personal products, please visit westpac.com.au/help/disaster-relief/coronavirus.
SME Recovery Loan Scheme: now open
Loans for businesses who have received a JobKeeper payment between 4 January and 28 March 2021 or been adversely economically affected by the recent floods.
- Business loans up to $5m
- No establishment fee2
- Loan terms up to 10 years
- Option to defer repayments3
- For new and existing customers
Things you should know
1. COVID-19 temporary overdraft available to existing small business customers who have Westpac as their primary bank and have a main transaction banking account with Westpac. Other eligibility criteria apply.
2. Other fees and charges apply.
3. An interest rate premium may apply where a payment deferral period is selected. Interest will accrue during the period of the repayment deferral.
Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for product details.