Supporting Small Business Through COVID-19
Running a small business can be tough at the best of times but in a global pandemic, when the country is in and out of lockdown, the challenges have never been greater. Like so many small business owners in our community Jenny, owner of Seraphine Café and Waterford The Kitchen, was hit hard by the initial outbreak of COVID-19.
With Seraphine Café forced to temporarily close and Waterford The Kitchen having to pivot to a takeaway-only model, Jenny was faced with standing down more than a dozen members of staff. Struggling with no longer having access to a local bank manager at her former big four bank, and daunted by the process of accessing support at such a difficult time, Jenny was referred to The Mutual Bank.
“If you are a small business wanting friendly and efficient local banking support, I highly recommend you reach out to the team at The Mutual Bank.”
-Jenny, local business owner.
“The support of the team at The Mutual Bank was a lifeline during our business closure,” said Jenny. “Being able to support my staff and make sure they were looked after was my number one concern. With 14 staff accessing JobKeeper, things would have been very different without the assistance of The Mutual Bank.”
“Through the support of The Mutual Bank I was able to access a temporary overdraft of funds to continue paying our staff while waiting for the monthly JobKeeper reimbursement. This has kept us in business and our staff employed at a very challenging time.”
In addition to accessing funding to meet the JobKeeper payments for her staff, The Mutual Bank also assisted Jenny with an application for the Federal Government’s SME Guarantee Loan Scheme to assist her in accessing further working capital to support both businesses in weathering the pandemic.
“As a member-owned bank, we are here to support our members through the good times and the bad,” said Geoff. “The Mutual Bank’s Business Banking Managers are our on-the-ground support for local businesses, and are here to help you.”
“I am so grateful for the assistance of the team at The Mutual Bank, and especially my Business Banking Manager Kate Newman. Having a solid relationship with a local banking expert helped to alleviate some of the stress and challenges we faced due to the Coronavirus,” said Jenny. “If you are a small business wanting friendly and efficient local banking support, I highly recommend you reach out to the team at The Mutual Bank.”
As the conditions of uncertainty continue to impact the local community, The Mutual Bank remains committed to delivering the highest level of support and service for all of its members, especially those at risk of or experiencing financial hardship.
“Support for our business members not only helps to ensure those businesses can weather the current pandemic and economic crises, it is also essential in helping to maintain the local economy and support community, something that is central to our mission at The Mutual Bank,” said Geoff.
For more information on how The Mutual Bank can support you and your business, please speak with your Business Banking Manager or contact our Member Service Team on 1300 688 825.