- Members Portal
- ABA Website
ABA welcomes additional SME support
25 August 2021
The Australian Banking Association welcomes the Federal Government’s expansion of support for small and medium sized enterprises (SMEs).
The changes to the SME Recovery Loan Scheme (SMERLS) will allow businesses with a turnover of less than $250 million to access loans of up to $5 million over a term of up to 10 years.
The Government will remove the eligibility requirements for SMEs to have received JobKeeper during the March quarter of 2021 or to have been affected by flooding.
Anna Bligh, Chief Executive Officer of the Australian Banking Association said the expansion of support was important for businesses right across the country and allows banks to extend their assistance.
“This is an important loan scheme that’s helping Australian businesses fight their way through the pandemic,” Ms Bligh said.
More…
Latest news
Key News: “The Cash Distribution Framework is an important piece of regulatory reform to ensure the continued availability of cash given the decline in its usage and recent uncertainties across the sector.” ABA CEO Simon Birmingham. Media release, 3 September 2026. Media & Communications Update: Political Update: Economic Update: Regulatory Update Upcoming Submissions Selected Media… Read more »
Key News: “You might just think it’s harmless letting somebody access your bank account and getting a few hundred bucks in return, but these are crime syndicates, these are money launderers. You may well be helping to scam a vulnerable Australian out of their life savings.” ABA CEO Simon Birmingham. Interview with 2SM’s Tim Webster,… Read more »
Key News: “Every dollar of bank profits that gets reinvested into bank capital, generates on the analysis we showed this week, $4.70 of economic activity across the Australian economy.” ABA CEO Simon Birmingham. Interview with Ross Greenwood, 21 June. Media & Communications Update: Political Update: Economic Update: Regulatory Update Upcoming Submissions Selected Media Warm regards,The… Read more »