HFB will keep you up-to-date as information unfolds…
20 April
SME Guarantee Scheme
A Coronavirus SME Guarantee Scheme has been introduced, and is designed to support the flow of credit for small and medium sized businesses (SME’s) – with the Government to guarantee 50% of new loans issued by eligible lenders.
16 April
JobKeeper Payment Scheme
Federal Government’s $130bn JobKeeper Payment scheme has been passed by Parliament.
Please click for more information regarding the criteria for accessing this scheme.
2 April
Apprentice & Trainee – Wage Stimulus Package
An an employer of an apprentice or trainee, you can apply for wage assistance and are able to claim up to $7000 a quarter.
31 March 2020
$130 billion wage subsidy scheme
Dubbed the ‘JobKeeper’ subsidy, the Government have committed $130 billion to support the jobs of Australians by offering government-funded fortnightly payments of $1,500 to each employee of businesses adversely affected by the Coronavirus.
27 March 2020
COVID-19 Job Supports Loans
The Queensland Government have opened applications for their COVID-19 Jobs Support Loans.
For the current information, details and eligibility – click the link below.
23 March 2020
What it means for you?
The Government has released some fact sheets to assist Australian’s understand what this package means.
22 March 2020
$66 billion stimulus package announced
Today, the Government announce a second massive stimulus package!
20 March 2020
In addition to cutting the interest rates by a further 0.25% (the second cut in a month) – to a record low of 0.25 per cent – the RBA has announced a comprehensive stimulus package, in an attempt to keep small and medium-sized businesses afloat. The measures look to supporting jobs, incomes and businesses, by providing banks with a $90 billion funding facility to lend to small and medium-sized business – as the economy struggles with the coronavirus fallout.
A further $15 billion package was announced (taking the total stimulus package to $105 billion) designed to support smaller banks and non-bank lenders – enabling them to continue to provide credit to struggling small and medium sized businesses.
20 March 2020
Loan Deferrals for Coronavirus-hit businesses
Yesterday the news from banks was three (3) month loan deferrals… today the ABA announces that small business hit by Coronavirus will be able to access a six (6) month deferral on business loan repayments.
20 March 2020
Banks are assisting individuals with home loans – for example:
- Putting a pause on home loan repayments for up to six months, including a three-month checkpoint.
- Access to redraw amounts.
- Reduce repayments on variable rate loans.
19 March 2020
Second cash rate cut in a month!
In a desperate response to the Coronavirus pandemic, the RBA have cut the cash rate for a second time this month – to a new low of 0.25%.
19 March 2020
$15 billion stimulus for non-banks & smaller lenders
The Government has announced a further $15 billion stimulus – specifically for non-banks and smaller banks. The initiative is designed to assist smaller lenders, enabling them to continue to provide credit and loans to small and medium-sized businesses during this difficult time. This stimulus package – expected to begin by April – provides vital support to smaller lenders, who are critical to the lending market, providing competition and driving innovation.
12 March 2020
Today the Federal Government have announced an economic stimulus package, which is aimed at keeping businesses afloat, and people in work.
