COVID-19 support

Edit: Applications for the Business Relief Package closed on 30 June 2022.

As Australia moves to respond to the emerging global COVID-19 crisis, IBA wants to assure our customers that we are doing everything we can at this time to assist you and keep our operations running as smoothly as possible.

We know that many of you will be facing uncertainty and economic hardship now and in the coming months and our teams are hard at work looking for ways we can assist at this time.

IBA BUSINESS FINANCE AND EQUIPMENT FINANCE CUSTOMERS

For IBA customers who have a start-up package, business loan or equipment finance product through IBA and have currently been significantly impacted by the COVID-19 situation, you will be able to apply for the following assistance:

1. Deferral of business loan and lease payments for an initial four-month period
2. Waiver of interest on business loans and leases for an initial four-month period
3. Special assistance for customers experiencing hardship, including loan restructuring, reassessment of loan terms and assistance accessing other federal, state and territory government stimulus packages.

To apply for this package, please contact your relationship manager so they can begin undertaking an assessment of your situation. Contacting your relationship manager directly will be the quickest way for us to respond to your enquiry.

We know this is a rapidly changing situation and we will continue to keep you informed as these measures roll out so please stay tuned for more information.

IBA HOME LOAN CUSTOMERS

If you are an IBA home loan customer and are having difficulties meeting repayments due to the current COVID-19 situation, please contact our IBA Homes team on 1800 064 800. IBA has a range of provisions in place for our home loan customers facing financial hardship.

WE’RE HERE TO HELP YOU

IBA is working closely with other Government agencies and sector participants to ensure we have a coordinated approach to assisting our customers.

We note that circumstances will continue to change in the coming weeks and months and we will continue to update you with further information about how we can assist you during this time.

Finally, as with many organisations around the country, IBA is moving to transition our 14 offices to remote working over the next week.   We are making this transition to support the health and wellbeing of our staff, customers and the community around us.

We remain open for business and want to ensure you that we are doing everything we can to maintain services for our customers at this time, and we greatly appreciate your patience while we adapt to these new conditions.

Kind regards,

Rajiv Viswanathan
IBA CEO