The Asian Banker

ANZ to lend $1.2b to South Australian SMEs
Jun 19, 2013

June 5th 2013 - ANZ today welcomed the South Australian Government’s budget package to assist small businesses and confirmed it is on track to lend $1.2 billion to South Australian 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 General Manager Small Business Banking and General Manager Corporate and Commercial Banking in South Australia Nick Reade said: “We know small businesses in the non-mining states are doing it tough so 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 South Australian companies with a payroll tax concession will have a strong impact on business confidence in the state.

“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 South Australian small business realise their ambitions,” Mr Reade said.

ANZ is already a major supporter of the Business SA Export Awards which promote exporters and stimulate greater involvement in exporting amongst Australian businesses.

ANZ also supports start up businesses through Adelaide-based ANZ Innovyz START, which is an intensive residential program designed to accelerate the development of StartUp and Early Growth phase businesses.


Re-disseminated by The Asian Banker

Categories: Retail Banking
Keywords: ANZ

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