Australian banks offer business loan relief, govt readies coronavirus stimulus

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SYDNEY: Australian banks said on Friday they will defer loan repayments for small businesses impacted by coronavirus for six months, as the government prepared to dramatically expand its stimulus package to shelter the economy from the impact of the pandemic. The spread of coronavirus around the world has threatened the viability of many companies, but small businesses with limited cash on hand are expected to bear the brunt of the collapse in consumer spending, risking massive job losses.

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