In March 2020, the Prime Minister announced that the government would be providing finance support for small businesses, guaranteeing 50 per cent of new loans issued by lenders to help SMEs access working capital to help them survive the coronavirus pandemic. Here, we review how the scheme has fared.
When the coronavirus pandemic took its hold on Australia in March 2020, the federal government and the lending industry came together to help support small businesses keep the lights on. After lockdowns were introduced and many businesses shut up shop, lenders were (unsurprisingly) hesitant to offer credit to businesses whose cash flow had come to a grinding halt with no idea of when they would be able to get back to normal levels.
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Annie Kane is the managing editor of Momentum's mortgage broking title, The Adviser.
As well as leading the editorial strategy, Annie writes news and features about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape.
She is also the host of the Elite Broker, New Broker, Mortgage & Finance Leader, Women in Finance and In Focus podcasts and The Adviser Live webcasts.
Annie regularly emcees industry events and awards, such as the Better Business Summit, the Women in Finance Summit as well as other industry events.
Prior to joining The Adviser in 2016, Annie wrote for The GuardianAustralia and had a speciality in sustainability.
She has also had her work published in several leading consumer titles, including Elle (Australia) magazine, BBC Music, BBC History and Homes & Antiques magazines.
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
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