Support for our business customers

Never has it been so important to keep businesses open and supported, and it's our job to help them continue their critical contribution to the community.

We’re open for business and our bankers are committed to providing businesses with the financial support packages they need to help manage cashflow, costs and innovation.

We realise these are unprecedented times and businesses are facing new situations daily. To help, we’re also offering all business customers free access to a special series of COVID-19 professional learning webinars provided by The Small Business Lounge and other business partners.

We’re all in this together and our Australia-based team of bankers are working tirelessly to support businesses, be it in person, on the phone or online.

We're supporting the Australian Government's SME Recovery Loan Scheme. Under the scheme, eligible business customers who received the JobKeeper payment between 4 January 2021 and 28 March 2021, or who've been impacted by the floods in March 2021, can access business loans of up to $5m for up to 10 years.

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 move your current loan (including phase one and phase two SME Guarantee Loans) to this loan ​
• All applications will be subject to a credit assessment.

Your business may be eligible if:​

• You received the JobKeeper payment between 4 January 2021 and 28 March 2021, 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.

Across Australia, the PIN limit for contactless 'tap and go™' payments increased from $100 to $200 progressively from 7 April 2020. This is a temporary measure to reduce your need to make physical contact with payment terminals.​

The new limit updates apply to Bankwest merchant facilities. If you need support, please contact Bankwest.​

Find out more about what the contactless payment limit increase means for customers.

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