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.

Bankwest intends to support phase three of the Australian Government's Coronavirus SME Guarantee Loan Scheme. More details about the scheme, eligibility requirements, how to apply and our support will be available soon.

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

We'll be taking applications for phase two until 1 May 2021. Under phase two, eligible businesses can 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. The current rate is 2.99% p.a. for secured loans and 3.99% p.a. for unsecured loans. Rates are subject to change.
   

• Your business or not-for-profit organisation turns over less than $50 million annually
• You have an Australian Business Number (ABN)
• You can be a current or new Bankwest business customer
• Your business requires working capital support or funds for business purposes (conditions apply)
  
• You operate a trading business - the scheme does not apply to Self Managed Super Funds (SMSF).
   

How to apply:

• All applications will be subject to a lending application including credit assessment
• Small business and new Bankwest customers can call 13 7000
• Relationship Managed business customers can get in touch with their Relationship Manager for more details
• We'll be taking applications for phase two until 1 May 2021.
   

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 realise these are unprecedented times and businesses are facing new situations daily. To help, we’re offering our business customers free access to a special series of professional learning webinars provided by our partners – The Small Business Lounge and Ernst & Young.

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