Support for our business customers

We’ll continue to protect and improve the wellbeing of our customers, colleagues and the community as the economy recovers from the impacts of COVID-19.

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.

Business lending support

If you’re a business customer who is in need of support due to the ongoing impacts of COVID-19, we’re here to help. We have a range of support options available that we can tailor to suit your individual needs.

Our small business customers can call 13 7000 (option three, then option two) and Relationship Managed business customers should get in touch with their Relationship Manager for more information.

Home loan support

If you’re a home loan customer (including Relationship Managed customers) and need support due to COVID-19, our Customer Assist team are here to help.

SME Recovery Loan Scheme

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.

Find out more about the scheme, if you're eligible and how to register your interest

Bank online with us

Our online tools are available to help you keep things running as smoothly and simply as possible even as things change.

See business ways to bank

Free professional learning webinars

We’re offering our business customers free access to a special series of COVID-19 professional learning webinars provided by our partners - Ernst & Young and The Small Business Lounge.

Find out more

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.

SME Recovery Loan Scheme

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.

 

SME Guarantee Loan Scheme – phase two (applications with us closed on 1 May 2021)

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.
 

How it worked under phase two of the 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.
 

SME Guarantee Loan Scheme – phase one (22 March 2020 - 30 Sept 2020)

Available from 22 March 2020 to 30 Sept 2020, under phase one of the SME Guarantee Loan Scheme, eligible businesses could access unsecured business loans of up to $250,000 for three years at low rates, given the Government’s support and the Reserve Bank’s funding scheme.

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.

Contactless payment limit increase to $200

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.

Free business webinars

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.

Marketing your business

Catch up on the latest business learning webinar

Marketing is an essential business function. Learn how to build your brand awareness and boost your cashflow and sales. Watch the webinar.

Our COVID-19 support for personal customers

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

How can we help?

Business Specialists Team

Speak with someone from the team today

Business Banking Specialists

Here’s how to get in touch

tap & go is a trademark of Mastercard International Incorporated.
 

Business webinars:

The Small Business Lounge Pty Ltd ABN 81 613 910 400 and Ernst & Young ABN 75 288 172 749 are the providers of these services. These services are not services of, nor guaranteed by, Bankwest. Any advice given on this web page is of a general nature only and has been prepared without consideration of your objectives, financial situation or needs. You should consider this information in light of your objectives, financial situation or needs before acting on the information.