Australian banks are supporting the roll-out of zero interest loans under the National Reconstruction Fund's $1 billion Economic Resilience Program, with applications now open.
Banks will administer zero interest loans to businesses in identified priority sectors with an annual turnover of $100 million or less seeking a loan of up to $5 million.
ABA CEO Simon Birmingham said banks recognised this was a challenging time for many businesses grappling with higher fuel costs and supply chain disruptions.
"Banks are stepping up to support the roll-out of these zero interest loans to businesses who are doing it tough as a result of the current conflict in the Middle East," Mr Birmingham said.
"This will be important support for impacted businesses in areas such as freight and logistics, fuel, fertiliser and plastics manufacturing.
