The Australian Bank Association announced today that banks are to help commercial landlords who help tenants. This includes:
- Australian banks will offer support to all businesses with loans up to $10m (previously was up to $3m).
- These businesses now eligible for 6-month loan deferral
- Commercial landlords with loans up to $10m will be able to defer their payments for 6 months and must guarantee that they will not evict anyone under financial distress as a result of COVID-19.