ANZ Update

The 'Government SME Recovery Loan Scheme' is designed to support the recovery of small to medium enterprises (SME) affected by the Coronavirus Pandemic (COVID-19) or the recent March 2021 floods.

It's available to your customers with an ABN and with an annual turnover of less than $250m who accessed JobKeeper payments between 4 January - 28 March 2021, as well as those who were impacted by the recent March 2021 floods.

For further information about the Government SME Recovery Loan Scheme, visit ANZ's FAQs page on

Here's what's available to your eligible business customers under the Scheme:

A variable-rate ANZ Business Loan1, with payments deferred for 12 months. Following this initial period, a further deferral period of 12 months may be available. They may borrow up to $5 million.

The features and benefits:

  • Variable-rate loan1
  • Borrow up to $5 million
  • Loan terms of up to 10 years
  • Ability to make additional unscheduled repayments at any time
  • Secured or unsecured loan options2 available (excluding residential property)
  • No loan approval fee and no account fees
  • Payments deferred for 12 months. Following this initial period, a further deferral period of 12 months may be available3
  • Where eligible, capacity to refinance existing loans (including government-guaranteed loans).

Note: For your customers not receiving JobKeeper during this period, it is essential to note that Phase 2 of the existing Australian Government SME Guarantee Scheme remains open to eligible borrowers until 30 June 2021.

Who is eligible?

Please ensure that your customer's business and lending needs meet the Government's SME Recovery Loan Scheme criteria before they apply. For them to be eligible:

  • Their business must have an ABN
  • For businesses impacted by the Coronavirus Pandemic:
    • Their business must have an annual turnover of less than $250 million (2019-20 income year) or is likely to be less than $250 million (2020-21 income year) or is likely to be less than $250 million (2021-22 income year); an
    • Their business must have received eligible JobKeeper payments at any stage during 4 January and 28 March 2021
  • For businesses impacted by the recent floods:
    • The recent floods must have adversely economically impacted their business; and
    • Their business must be located in or operate in a flood-affected Local Government Area
  • They are applying for new or refinanced lending under the Scheme, including those from the SME Guarantee Scheme
  • Lending cannot be used to purchase residential property or a financial product or provide loans to an 'associated entity.
  • Lending is capped at $5 million per ABN. This incorporates all lending that qualifies under the Scheme taken out by the ABN from any provider, excluding any Phase 1 and Phase 2 Scheme lending.
  • All lending contracts under the Scheme must be entered into by 31 December 2021.

For more information and eligibility details, visit Government SME Recovery Loan Scheme FAQs.


  • Refer to the attached FAQs
  • Please contact your BDM for further questions.


1Rates may vary based on ANZ's credit criteria or your financial circumstances.

2 For a secured loan, you'll need to provide security acceptable to ANZ, meeting ANZ's requirements, including minimum security coverage and suitable location. Residential property can't be used as security under the Government Guarantee Scheme. For an unsecured loan, you won't need to provide an asset as security, although a personal guarantee may be required (for example from company directors).

3 Payment deferral of 12 months is available on term loans, with interest capitalised. Interest capitalisation is the addition of unpaid interest to the outstanding loan balance. The outstanding loan balance increases when payments are postponed during periods of deferment and unpaid interest is capitalised.