The package will apply to more than $100 billion of existing small business loans across the nation.
In addition to this, the banks are fast-tracking approval processes so businesses can receive support during growing uncertain times. “This is a multi-billion shot in the arm for businesses when they need it most,” Ms Bligh said. “Businesses can rest assured knowing the banks have got their backs.” Image: AP
Ramp up debt to achieve growth and inflation.....it’s all coming home to roost. Well done RBA.
If this is her work, then she’s doing a little bit of rebalance from her time as Qld Premier. Keep it up Anna.
Anna has certainly been busy today. Every story about the banks doing nothing has her pictured in a different outfit. How did she get the $750 bonus early?
Trust me I'm a former state leader 😩
I still do not understand why the Australian government send children to school when there are already 700 cases of contagion throughout the country considered that the Australian government has a great responsibility not only with natives but also with foreigners. Quarantine
Let's be honest smallbusines has turned into BigBusines and the LNP have facilitated this but want you to know they support small business because they support Mums and Dads and communities but just want to put you into more debt and get your vote. smokeandmirrors rollback
Big wigs like Qantas get free money while small business get a loan and go belly up in six months when they can't make repayments.
No repayments for 6 months? That’s fine but interest is accumulating? Yep, don’t make repayments and in 6 months when you haven’t put aside money to repay the money you are foreclosed. Brilliant
Will that mean double payments in 6 months or lump sums required?
And then they'll be scrambling to pay back loans on top of normal expenses & pressure of recovery. Past 20 years (at least) has shown when shit hits the fan Capitalism falls flat on its face.