NAB responds to businesses impacted by Coronavirus
As Australia’s leading business bank, we are committed to supporting our nation’s trade and assisting customers financially affected by the coronavirus outbreak.
As international efforts to contain coronavirus intensify, Anthony Healy, NAB’s Chief Customer Officer for Business and Private Banking acknowledged the impacts of the outbreak were beginning to be felt across industries.
‘A number of Australian businesses have already cited coronavirus as having an impact on earnings and we are determined to back our customers through this difficult time. We know that businesses’ may have difficulty with cash flow in light of fewer tourists, a drop in university students numbers or forward orders in mining or agriculture.
‘We are working with our customers on a case by case basis. Anyone who needs assistance should contact their banker so we can discuss their circumstances and determine the best way to help.’
NAB works with its customers to navigate business cash flow challenges through a range of measures including:
- Deferral of business loan repayments for up to 3 months, assessed on a case by case basis
- Extension of a business loan term by a period of up to 3 months, where individual circumstances warrant
- Support to restructure existing business loans, including equipment finance
- Business credit card deferred repayments.
Customers experiencing financial challenges are encouraged to reach out to their NAB banker.