Westpac announces $10 million fund to provide grants to customers and businesses in flood-affected areas - March 25, 2021
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News

Westpac announces $10 million fund to provide grants to customers and businesses in flood-affected areas

Thursday, March 25, 2021

Company: Westpac

Westpac has announced it has established a Flood Support Fund of up to $10 million to provide emergency grants for customers and employees in flood-affected areas across New South Wales and South-East Queensland.

The Westpac Flood Support Fund will provide access to grants for customers and employees with significant damage to their home or business as a result of the recent severe weather events.

$5,000 re-open grants for businesses

Business customers can access grants of $5,000 to assist with the recovery and re-opening process, including repairing damage and helping with costs like the loss of equipment and stock.

$3,000 emergency grants for households

Employees and customers in flood-affected areas can access grants of $3,000 to help with costs for essential items and services.

“The recent severe weather events have impacted tens of thousands of residents, and caused devastation to homes, farms and businesses across New South Wales and Queensland,” said Chris de Bruin, Westpac Chief Executive Consumer and Business Banking.

“We are providing up to $10 million in funding to enable our customers and employees to access grants to assist them with purchasing items and services that will help them get through this challenging time.

“This is just the beginning of the long recovery process for many Australians. These grants give our impacted customers and employees one less thing to worry about as they start to get back on their feet,” he said.

Westpac has also extended its emergency assistance package to customers and businesses in flood-affected areas in South-East Queensland, in addition to the support announced for New South Wales residents over the weekend.

Customers who need assistance can contact Westpac Assist on 1800 067 497 to discuss their individual needs and circumstances.  

More information about the support available for customers impacted by the floods in New South Wales and South-East Queensland is available online at Westpac’s Disaster Relief Package page.

Eligibility criteria for consumer customers:
 

  • Aged 18 years or over and reside in a flood-affected postcode in New South Wales or South-East Queensland.
  • Current Westpac Group customers who have banked with Westpac on or before 20 March 2021 and hold at least one active account.
  • Have experienced severe impact to their primary place of residence caused by or as a result of the floods (rent or own) – meaning that the property is no longer in a liveable condition.
  • One grant per household (a household is defined as a residential address).
  • Applies to primary residences as per Westpac’s customer records on 20 March 2021.

 

Eligibility criteria for business customers:
 

  • Aged 18 years or over and conduct business in a flood-affected postcode in New South Wales or South-East Queensland.
  • Current Westpac Group customers with a business trading/transaction account opened on or before 20 March 2021, with the business currently in operation.
  • Minimum total business lending limits (including Equipment Finance, Term Lending, Working Capital and Invoice Finance) of $250K per customer group.
  • Have experienced significant damage to, or destruction of, income-producing assets as a result of the floods. This could include business premises, equipment and loss of stock or livestock but not loss of income.
  • One grant per business customer group.
     

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