Support for our business customers

We’re all in this together, so if you would like to discuss any of our support packages, or if you’d like some guidance around what options might best suit you and your business, we are here to help. You can also contact us if you have any questions about previously available support options.

Our small business or new to Bankwest customers can call 13 7000 and Relationship Managed business customers can get in touch with their Relationship Manager for more information. For Merchant banking queries contact our Merchant Support Team on 1800 230 177.

Our online tools are also available to help you keep things running as smoothly and simply as possible even as things change. See business ways to bank.

We're supporting the Australian Government's SME Recovery Loan Scheme. Under the scheme, eligible business customers who have been impacted by the COVID-19 pandemic, or the March 2021 floods, can access business loans of up to $5m for up to 10 years. As of 1 October 2021, JobKeeper eligibility requirements no longer apply.

How it works:

• Borrow up to $5m (lending criteria applies) with the option of an unsecured or a secured loan (excluding residential property)​
• You could defer your repayments for a period of time. Interest will continue to accrue during this period and will be added to the loan balance
  
• A variable interest rate applies for the term of this loan. For secured loans, the current rate is 2.60% p.a. (or 2.85% p.a. with a repayment deferral). For unsecured loans, the current rate is 3.25% p.a. (or 3.75% p.a. with a repayment deferral). Rates are subject to change
• If eligible, you could refinance your current loan (including phase one and phase two SME Guarantee Loans and other non-SME Guarantee loans) to this loan ​
• All applications will be subject to a credit assessment.

Your business may be eligible if:​

• You have been impacted by the COVID-19 pandemic, or your business is located or operating in an area impacted by the floods in March 2021
  
• Your business or not-for-profit organisation turns over less than $250m annually​
  
• You have an Australian Business Number (ABN)​
• You can be a current or new Bankwest business customer​
• Your business requires funds for business purposes (conditions apply)​
• You operate a trading business – the scheme doesn't apply to Self Managed Super Funds (SMSF)​.

How to register your interest:​

Use our online form to register your interest, and we'll get in touch to discuss it with you.

You can learn more about the SME Recovery Loan Scheme at the Treasury website.

We've been supporting phase two of the SME Guarantee Loan Scheme by extending additional support to small and medium business customers.

Applications with us closed on 1 May 2021. Under phase two, eligible businesses could access business loans of up to $1m for three to five years at low rates, given the Government's support and the Reserve Bank's term funding scheme.

• Borrow up to $1m (lending criteria applies), with the option of a secured (commercial property only) or an unsecured Business FeeSaver Loan
  
• No application or ongoing monthly maintenance fees
• A reduced variable rate applies for the term of this loan
• All applications were subject to a lending application including credit assessment.

If you have any questions about a scheme loan or application, call us on 13 7000 or contact your Relationship Manager.

Here’s how it worked:

• Borrow up to $250,000 (lending criteria applies) with an unsecured Business FeeSaver Loan (director’s guarantees may be required)
  
• No application or ongoing monthly maintenance fees
• No repayments required for six months
• A reduced variable rate applies for the term of the loan
• For the first six months, interest is deferred and capitalised
• After the deferral period, you’ll need to repay the loan over the remaining loan term.

We're here when you need us. See our coronavirus-related support for personal customers.