You may be entitled to:

  • An SME Recovery Loan*
  • A refund of merchant fees
  • Reduced rates and fees

Your business’ financial wellbeing is our priority

If you are concerned about the end of the JobKeeper payment scheme or you need further support at this time, please reach out to us. If you have a Relationship Manager they will be able to assist you at this time, or call our dedicated Business Financial Assistance team, available 24/7, on 13 26 07

Benefits finders

You may be eligible for benefits, rebates and concessions that could help you save money and help your business with cash flow.

Explore Benefits finder

We're here for you

Financial support guide

Your personal and financial wellbeing is our priority in these uncertain times. Whether you’re experiencing business hardship, reduction or loss of income or are navigating how to help your employees, this guide helps explain what’s on offer, to help alleviate the stress.

View the guide

We're with you as things change

We’re doing our very best to support you and acknowledge it’s a rapidly changing environment. We’re working around the clock to ensure we have dedicated teams of specialist bankers to help you through this and to respond to your queries. Our online accounts are available so you can work remotely and access 24 hours a day through NetBankCommBank app or through CommBiz.

We encourage any customer that needs help to contact us. If you have a Relationship Manager they will be able to assist you at this time, or speak with our dedicated Business Financial Assistance team, available 24/7, on 13 26 07

Apply for the SME Recovery Loan Scheme

To support our business customers, we will be offering loans of up to $5 million1 for eligible customers* who have received, or been entitled to receive, a JobKeeper payment between 4 January 2021 and 28 March 2021, or have been adversely economically affected by the recent floods (March 2021). Applications can be made from 1 April 2021 to 31 December 2021. This loan must be used for business purposes or the purchase of commercial property, and is part of the Government SME Recovery Loan Scheme.

How it works

  • Borrow up to $5 million (lending criteria applies)1
  • From 3.25% p.a. variable rate for unsecured loans, and from 3.75% p.a. with a repayment holiday1
  • From 2.60% p.a. variable rate for secured loans, and from 2.85% p.a. with a repayment holiday1
  • The loan must be used for business purposes or purchase of commercial property
  • Loans may be secured or unsecured

You can learn more about the SME Recovery Loan Scheme at the Treasury website.

*Eligibility

  • Small to medium sized businesses with up to $250 million turnover, including those self-employed, and not-for-profits
  • Must have an Australian Business Number (ABN)
  • Available to current and new CommBank business customers
  • Must have received, or been entitled to receive, a JobKeeper payment between 4 January 2021 and 28 March 2021, or have been adversely economically affected by the recent floods (March 2021)^
  • Meet the eligibility criteria under the SME Recovery Loan Scheme 

Enquire about a new loan

  • Register your interest now through the online enquiry form and we’ll call you to progress your enquiry

Register your interest here

Businesses impacted by March floods 

If your business was adversely economically impacted by the recent floods in March 2021^, you may be eligible to apply for support through the federal government’s SME Recovery Loan Scheme. Businesses can enquire about SME Recovery Loans using this form or by calling our business banking contact centre on 13 19 98. For more information, you can visit the government website here.

You may also be entitled to:

  • Repayment deferrals on eligible business loans.
  • Refunded merchant terminal fees for up to 90 days.
  • Waived replacement fees for damaged or lost merchant terminals.
  • Waived fees and notice periods on Cash Deposit and Farm Management Deposit Accounts for eligible customers.
  • Tailored specialised support for larger business customers.

SME Guarantee Loan Scheme Phase 2

We are also continuing to offer a three, four or five year BetterBusiness Loan (up to $1 million)1 with applications open until June 2021. There are both secured and unsecured loan options. This loan can be used for business purposes and the purchase of commercial property, and is part of the Government Coronavirus SME Guarantee Loan Scheme Phase 2, which is designed to provide support to small and medium sized enterprises in the current COVID-19 environment.

How it works

  • Borrow up to $1 million (lending criteria applies)1 with a secured or unsecured BetterBusiness Loans
  • 3.99% p.a. variable rate for unsecured and partially secured loans1
  • 2.99% p.a. variable rate for secured loans1
  • Interest only periods are available 
  • The loan must be used for business purposes or purchase of commercial property. Loans must not be used to refinance existing debt (other than Scheme Loans), inter-group lending, or to purchase residential property or financial products (such as shares) 
  • For new loan applications only and cannot be applied to existing loans, including an extension or increase of existing loans, top-ups or variations. Refinances are only allowed when refinancing existing Government Coronavirus SME Guarantee Scheme loans

Eligibility

  • Small to medium sized businesses with up to $50 million turnover, including those self-employed, and not-for-profits
  • Must have an Australian Business Number (ABN)
  • Available to current and new CommBank business customers

How to apply for a new loan

  • If you’re an existing customer, you may be eligible for same day funding with BizExpress
  • Once you’ve supplied a few details about your business through the online application form, we’ll call you

Apply now

Car & equipment finance

From 1 October 2020, eligible SME business customers are able to access Car and Equipment Finance as part of Phase 2 of the SME Government Guarantee Loan Scheme. Approved customers can receive low fixed-rate pricing on new approved Chattel Mortgage, Finance Lease and Hire Purchase finance agreements. Upon the signing of finance documents, customers will be automatically enrolled in the Scheme. Customers may opt-out if they do not wish to be included in or do not qualify for the Scheme.

How it works

  • Borrow up to $1 million under the scheme, including CommBank Car and Equipment Finance and Better Business Loans and lending from other participating financial institutions (lending criteria applies*).
  • Financed assets must be for business purposes
  • For new lending applications only and cannot be applied to re-financing existing loans. 

Eligibility

  • Small to medium sized businesses with up to $50 million turnover, including those self-employed, and not-for-profits
  • Must have an Australian Business Number (ABN)
  • Available to current and new CommBank business customers
  • Maximum loan term available is 5 years.

How to start the process

Talk with your CommBank Relationship Manager or get an online quote in less than 60 seconds
 

 

Get a quote

Refund merchant fees

If you're facing financial difficulty, you can ask us to refund your Merchant terminal rental fees, minimum monthly Merchant Service Fee, Monthly Access Fee, and Simple Merchant Plan fee (as applicable) for up to 90 days. If you have a Relationship Manager they will be able to assist you with this, or you can speak with our dedicated Business Financial Assistance team on 13 26 07, who are available 24/7.

Reduce rates and fees

For CommBank small business, we’re providing additional flexibility by reducing interest rates by 1.00% p.a. on small business loans where the interest rate is calculated based on the RBA cash rate plus a margin, which came into effect on 3 April 2020.

You can ask us to refund your Merchant terminal rental fee, minimum monthly Merchant Service fee and Monthly Access Fee (as applicable) for up to 90 days  

Self service

Have a look at our practical guides to help your business bank online. Access your accounts 24 hours a day using online banking.

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Things you should know

As this information has been prepared without having regard for your individual and/or business objectives, financial situation or needs, you should, before acting on this information, consider its appropriateness to your circumstances. This information is current as at 25 March 2021 and is prepared without taking into account your individual and/or business needs and objectives. CommBank has the right to change or cancel this offer at any time without notice. The statements and content of this fact sheet have been sourced from various government publications and summarised. CommBank disclaims, to the extent permitted by law, all warranties, representations or endorsements, express or implied, with regard to the material and does not accept any liability in relation to the quality, operability or accuracy of the material.

1 These products are only available to approved business customers and for business purposes only. This offer cannot be used to purchase residential property or financial products; or to provide loans to associated entities. SME Government Loan Scheme Phase 2 loans cannot be used to refinance existing debt (other than Scheme Loans). SME Recovery Loans may be used to refinance existing debt (including Scheme Loans). 

Applications for finance are subject to the Bank's eligibility and suitability criteria and normal credit approval processes. View our current Terms and Conditions for Business Finance and consider them before making any decision about these products. For current interest rates, visit Business banking rates and fees. Rates are subject to change. Fees, charges and Terms & Conditions apply.

^ “Recent Floods” means the flooding that occurred in March 2021 in the Flood Affected Local Government Areas. “Flood Affected Local Government Area” means a flood affected local government area as published on the Department of the Treasury website and updated by the Commonwealth from time to time for the purposes of the Scheme.

Please view our Merchant AgreementFinancial Services Guide and Operator and User Guides at our Merchant Support Centre.

Credit provided by the Commonwealth Bank of Australia.