Banks race to roll out SME loans

Original article by Joyce Moullakis
The Australian – Page: 15 & 18 : 23-Mar-20

The federal government will underwrite 50 per cent of new loans made by eligible lenders to small and medium enterprises as part of its response to the coronavirus crisis. Westpac’s acting CEO Peter King says the SME Guarantee Scheme will provide "significant support" to SMEs, while he supports moves to allow people in financial hardship to access their superannuation. The rollout of the scheme in New South Wales and Victoria has been complicated by moves to lockdown non-essential services in coming days, as banks work to keep as many branches open as possible in those states.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

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