Non-bank announces COVID-19 hardship assistance

by Madison Utley19 Mar 2020

A non-bank lender and wealth manager has announced a hardship assistance program to help small business customers weather the financial fallout of the the spread of COVID-19.

La Trobe Financial has designed the package to assist all small business customers, whether tourism operators, farmers, exporters of fresh produce or groups reliant on imports.

Customers may be eligible to arrange:

  • A deferral of scheduled loan repayments
  • The waiving of fees and charges
  • Temporary interest-only periods to assist with cashflow
  • Debt consolidation to make repayments more manageable

La Trobe is encouraging any customer experiencing financial hardship, regardless of their circumstances, to get in touch and will handle each request on a case-by-case basis.

Cory Bannister, chief lending officer at La Trobe Financial, reiterated the group’s dedication to supporting its customers through the rocky start of 2020.

“We recently announced a $1 million bushfire relief package to help people affected by the devastating bushfires across Australia,” he said.

“Today, we are looking out for our customers who have been impacted by the spread of COVID-19. As always, we remain committed to helping our customers through these challenging times.”