Lending support for SME during COVID-19

To help support your SME business during this challenging period.

what's included.

Link to Everyday Business account.

Ability to link to an Everyday Business account.

Funds available at a call.

Get access to funds when you need it most.

Always on.

24/7 access with e-statements, internet banking & our moneytree app - banking from your phone or tablet.

For both new and existing eligible Illawarra Credit Union Customers

The offer at a glance:

  • A maximum overdraft term of 3 years
  • Overdraft amount of up to $250,000 plus capitalised interest
  • No repayments for the first 6 months (interest will be capitalised) following which principal and interest repayments will commence.

Refer to the Credit Fees and Charges brochure and Fees, Charges and Transaction Limits brochure for more information.

To reduce or cancel your credit limit complete our online form or call us on 13 22 49.

Business Unsecured Overdraft SME 

  • 7% p.a. variable
  • 3 year term overdraft
  • No application fees

Things you need to know.

For both new and existing Illawarra Credit Union customers, to be eligible for the SME support overdraft you will need to meet the below criteria.

  • Your business has been impacted by COVID-19;
  • The annual turnover is less than $50 million;
  • The purpose of the overdraft must be for business working capital such as liquidity and operating expenditure;
  • You must remain within your overdraft limit.
  • You have not accepted another SME support overdraft from another financial institution;
  • The business is based and operates within Australia
  • You must have an ABN to apply.
Product Interest Rate Term
Business Unsecured Overdraft SME Product 7% p.a. 3 years
Fees
Application Fees $0

To reduce or cancel your credit limit complete our online form or call us on 13 22 49.

important notes

Eligibility criteria, terms & conditions, fees & charges apply. Please refer to the Credit Fees and Charges brochure for current details on fees and charges applicable to our loans.