IBA customers who have a business loan product or equipment finance product through IBA and who have been significantly impacted by the COVID-19 pandemic, may be eligible to apply for the following assistance.
Deferral of business loan and lease repayments for a 6-month period, zero interest on business loans and leases for the 6 month deferral period and where necessary, extension of your loan term by 6 months (to accommodate the deferral period)Business support for Indigenous businesses.
IBA is offering Indigenous business relief package for eligible Indigenous businesses who have been impacted by COVID-19, including Indigenous business which are not already IBA customers. This relief package has been designed in collaboration with the National Indigenous Australians Agency to respond to the immediate challenges Indigenous businesses are facing .
This package includes:
Business Impact Assessment: Access to specialist advice to navigate the COVID-19 crisis, including a rapid assessment of your business positioning, cash flow management and assistance to access available stimulus measures from Federal, State/Territories.
Working capital assistance: Working capital assistance of up to $200,000 (assessed on a needs basis), which may consist of:
- A loan to assist with working capital needs, with a term of up to 5 years, no repayments for the first 12 months, and preferential interest rates;
- A loan coupled with a capped grant component to assist with ongoing fixed costs, purchase of equipment and generating
To access this support complete the eligibility and expression of interest form