Support for our business customers

The wellbeing of our customers, colleagues and the community remains our number one priority during this time of uncertainty surrounding coronavirus.

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.

Temporary JobKeeper Overdraft

We’ve introduced a Temporary JobKeeper Overdraft for eligible Bankwest business customers who need funding to bridge the gap until receipt of JobKeeper payments.

Find out more and how to apply

Deferring your business loan repayments

You can ask us to defer your repayments on your business loans for six months.

Find out more and how to apply

Home loan support

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

Find out more

Taking out a new business loan - SME guarantee loan scheme

We’re supporting the Australian Government’s Coronavirus SME Guarantee Scheme. Under the current scheme, eligible businesses can access unsecured business loans of up to $250,000 for three years at low rates.

Find out more about the scheme, if you’re eligible and how to apply

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 COVID-19 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.

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.

Temporary JobKeeper Overdraft to help pay your staff

We can offer additional support for eligible businesses who need help in advance of the distribution of their JobKeeper payments.

Eligible Bankwest business customers can apply for a Temporary JobKeeper Overdraft to help them pay their employees until their JobKeeper payment is processed by the Federal Government.
 

How it works:*

Eligible Bankwest Business Transaction Account holders can apply for a temporary overdraft of up to $250,000 for 30 days to help pay their staff. Applications are subject to lending criteria.
 

To access this support, you’ll need to:

  • Evidence that you have registered for the JobKeeper payment.
  • Be an existing business customer who has held a Bankwest Business Transaction Account for more than 30 days.
  • Ensure the account the temporary overdraft will be applied to matches the financial institution details on the JobKeeper application.

 

To apply for this support:

Our small business customers can call 13 7000 (option three, then option two).

Relationship Managed business customers should get in touch with their Relationship Manager for more information and to apply.

SME guarantee loan scheme

Bankwest is supporting the Australian Government’s Coronavirus SME Guarantee Scheme by extending additional support to small and medium business customers. We’re aware of changes happening to the scheme from 1 October 2020 to further help businesses successfully adapt and grow. We will update this page as changes are implemented.

The current phase of the Coronavirus SME Guarantee Scheme remains available until 30 September 2020. Under this scheme, eligible businesses can 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 term funding scheme.
 

How it works under the current scheme:

  • Borrow up to $250,000 (lending criteria applies) with an unsecured Business Fee Saver 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 this loan, currently 4.50% p.a.
  • 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.

 

Your business may be eligible if:

  • 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 during COVID-19 restrictions - this loan cannot be used for asset purchases, refinancing existing loans or be applied to existing loans, including top-ups or variations 
  • 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.

Contactless payment limit increase to $200

Across Australia, the PIN limit for contactless ‘tap and go™’ payments will increase from $100 to $200. This is a temporary measure to reduce your need to make physical contact with payment terminals.

The new limit updates will automatically be applied to Bankwest merchant facilities by Commonwealth Bank progressively from Tuesday, 7 April 2020. For more information, refer to CommBank Business Banking page for updates or contact Bankwest for support.

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

Free COVID-19 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 COVID-19 professional learning webinars provided by our partners – The Small Business Lounge and Ernst & Young.

Catch up on the latest COVID-19 professional learning webinar

Managing your business through a crisis and preparing for the recovery

Provided by our partner Ernst & Young, this professional learning webinar includes an economic update, a look at consumer spending and behaviours, and information about staff productivity and resilience.

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