ANZ rolls out SME offering with $9 billion credit
ANZ will provide an additional $9 billion in credit limits for its small business customers as it rolls out a service that will cut application times.
The streamlined Quick Assist application process will save about 40,000 existing small
business customers time in applying for loans with faster access to increased credit limits of up to $500,000 each.
“These process improvements for our small business customers will save them time and provide them with more money to continue running or growing their business,” ANZ group executive Australia retail and commercial Mark Hand said.
“Time and money are two of the biggest factors for small business operators. They often don’t have enough time to get things done and they can’t always get the money they need fast enough.”
The major bank’s initiative in providing support to its small business customers follows a recent imitative by the Commonwealth Bank.
Last month, CBA announced that it would hire more than 120 people to support its small business customers and will also remove fees with quicker access to business funding.