Major pledges $1.2b to state's SMEs

by AB06 Jun 2013

ANZ says it welcomes the South Australian Government’s budget package to assist small businesses and claims it plans to lend $1.2 billion to SA small businesses this year.

This follows a pledge made by ANZ in April to lend $1 billion to new small businesses nationally, as a ‘demonstration of its commitment to Australia’s small business sector’, with around $100 million to be allocated to start-up businesses in South Australia.

ANZ GM, small business banking and GM corporate and commercial banking in SA, Nick Reade, says the major lender knows small businesses in the non-mining states are doing it tough.

“Any steps to remove red tape and help further develop our small businesses is positive. The Government’s decision to provide more than 2,000 SA companies with a payroll tax concession will have a strong impact on business confidence in the state,” says Reade.

“As part of ANZ’s ‘Banking on Australia’ program, we recently expanded our support for small businesses and we’re pleased that we are on track to lend at $1.2 billion to small businesses here in South Australia.”

“We know that there is a perception that banks do not lend to small businesses and through today’s announcement we’re reinforcing that we’re ready to help SA small business realise their ambitions.”