All major banks, and the Australian Banking Association are currently providing structured financial support for most businesses.

Typically, these measures include:

• Deferral of principal and interest loan repayments for six months.

• Reduced interest rates.

• Increased access to credit.

• Waived fees and charges.

• Debt consolidation to help make repayments more manageable.

Most of the banking initiatives require you to *opt in*. Consequently, you should speak with your banking relationship manager to confirm your bank’s specific initiatives and eligibility criteria, and to obtain copies of the terms and conditions.