National Drought Assistance Policy
Poor seasonal conditions can take a toll on agribusinesses and lead to financial stress. To support you during tough times, we provide a special assistance package for drought-affected businesses that have existing facilities with the Commonwealth Bank.
We review the needs of agriculture and related businesses, including produce suppliers, transport operators and harvesting contractors, on a case-by-case basis to determine if they qualify for assistance.
Following a review of your circumstances, our drought assistance package has the ability to:
- Maintain interest rate margins at their existing levels despite any increase in a customer’s risk rating
- Restructure existing loans free of charge
- Provide interest-only facilities during the drought
- Extend the terms of facilities
Your agribusiness manager will review your case and recommend a concessional package relating to all facilities (including asset finance). Where facilities are to be restructured or terms extended, risk approval will need to be sought.
If you do not have an agribusiness manager, we will appoint a risk manager to review your eligibility for drought assistance.
The Australian Government also provides drought assistance packages.
- Important information about advice
As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances.