We at Finance Mutual Australia are here to help you renegotiate and reconfigure your loan terms. We are here to help.
As you may be aware there is a raft of support for businesses during this challenging time. We at Finance Mutual Australia will continue to update you on information that can assist you with your business.
Business SA have released dedicated information and resources for your business to respond to COVID-19 and plan for the future. https://www.business-sa.com/covid19
The Commonwealth Government announced a number of measures to further support Australian businesses, workers and communities during this challenging period.
Economic support includes but is not limited to:
- Cash payments – eligible not-for-profits, small and medium businesses will receive a tax-free cash payment of between $20,000 and $100,000 to keep staff employed. Payments will be delivered by the Australian Tax Office as a credit on activity statements from late April.
- Loan Guarantees – the Commonwealth Coronavirus SME Guarantee Scheme will support small and medium businesses to access working capital to get them through the impact of COVID-19.
- Early release of superannuation – allowing individuals in financial stress to access up to $10,000 of their superannuation in 2019-20, and a further $10,000 in 2020-21.
- Income support – expanded eligibility for income support payments and establishing a new, time-limited COVID-19 supplement.
You may also be aware of measures announced by the Australian Banking Association to defer loan repayments for small businesses for six months.
We encourage you to access these measures where possible to support yourself, your organisation and your staff.
The South Australian Government is continuing to work closely with its partners on support needed to keep businesses alive during this difficult period, including options for skills and training and maintaining a workforce.
We want you to know we are acutely aware of these issues you are facing. We at Finance Mutual Australia are here to help you renegotiate and reconfigure your loan terms. We are here to help. Contact us today
To keep up to date, check http://www.business.sa.gov.au for relevant information and available support.
Read latest SA Government media statement.
Please continue to keep abreast of the relevant health information at: www.sahealth.sa.gov.au/COVID2019