La Trobe offers support for COVID-19 affected businesses
La Trobe Financial will offer hardship assistance for small business customers whose livelihood has been affected by COVID-19.
The company said it recognised that these were ‘unprecedented economic times’ for businesses and encouraged firms to contact them regardless of their circumstances.
Assistance offered by La Trobe included:
- Deferral of scheduled loan repayments;
- Waiving fees and charges;
- Temporary interest-only periods to assist with cashflow; and
- Debt consolidation to make repayments more manageable.
Cory Bannister, chief lending officer at La Trobe, said: “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.”
This followed a $1 million assistance package earlier this year for those affected by the summer’s bushfires.
Affected customers were urged to call the hardship assistance team on 1800 620 639.
AUTHOR
Laura Dew
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
