Council of Small Business Organisations Australia
COSBOA is pleased and surprised by today's announcement from the Australian Banking Association that banks will defer loan repayments for six months for small businesses that need assistance because of the impacts of COVID-19.
Peter Strong, CEO of COSBOA, stated "this is totally unexpected and great news for the small business community. The banks have really responded to this crisis with an announcement that will provide relief for small business people confronting situations never experienced before."
COSBOA notes the assistance package will apply to more than $100bn of existing small business loans and could put as much as $8 billion back into the budgets of small business families as they face difficult times.
Mr Strong added "there is
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