NAB backs new Government SME Recovery Loan Scheme

first_imgNAB backs new Government SME Recovery Loan Scheme National Australia Bank (NAB) will support and help deliver the new phase of the Federal Government’s SME Recovery Loan Scheme.Group CEO Ross McEwan said NAB, which is Australia’s largest business lender, would promote the scheme to its small and large customers hurting under domestic and international travel restrictions and ongoing uncertainty.“With the phasing out of JobKeeper, this is a really comprehensive loan package for those industries that continue to be hit hard by COVID-19,” Mr McEwan said.“The package is a thoughtful extension to the scheme with significant increases in all key components including eligibility and loan size.“In particular, the longer dated terms doubling to a maximum 10 years will be really helpful to businesses that were healthy pre-COVID but struggling in the current conditions.“We are pleased to see specific support for the aviation and tourism industries, given the particularly heavy load these businesses and their many employees have borne over the past year.”For information on NAB’s COVID-19 support is available at www.nab.com.au/coronavirus. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, Aviation, bank, banking, business, covid-19, Employees, Federal, federal government, Government, JobKeeper, loan, NAB, National Australia Bank, Ross, tourism, travellast_img read more