A number of South African banks have announced measures to assist small businesses during the COVID-19 crisis. So which banks are offering what?
Standard Bank is offering a range of options to support small businesses, such as a payment interruption scheme on business loans, and three-month instalment for personal loans of small business owners. If you are not eligible for these options, you can contact the bank to see how they can assist you. Read more
Absa has launched a payment relief programme offering, among others: relief for consumer, business banking and wealth customers; bespoke solutions for corporate and business banking clients; and the waiving of additional administration fees. Read more
First National Bank
First National Bank is offering qualifying customers instalment cash flow relief, a preferential interest rate and no fees on COVID-19 relief interventions, individualised bridge facilities for those who need it, among others. Read more
You may also be interested in a Moneyweb article which outlines all the COVID-19 relief announced by South African banks so far. Click here to read.