We understand COVID-19 presents uncertainty or financial pressure for many Australians.
In response, Kooyong Group has established a dedicated contact centre to assist clients and friends with immediate support in the following areas:
> Access to cashflow relief funding
> Access to key information and support to process hardship requests on home and investment loans
> Information on how to best process requests to pause payments on business and home loans for 3 to 6 months
> Access to a 3 to 6 month payment pause for all existing Kooyong Capital loans without any additional fees or charges
Ways to get in contact with us.
Phone – 1300 417 426
Email – contact@kooyonggroup.com.au
Hours – 9.00am – 6.00pm, Monday to Friday
Helpful information to protect your financial future.
We’ve also compiled a series of recommendations, based on our own, government and banking initiatives, to assist your decision making during these challenging financial times. These recommendations are for those looking for ways to relieve unplanned financial pressure, or to protect their existing investments.
> Deferral of loan repayments-
Most lenders including Kooyong Group, are offering coronavirus affected individuals the ability to pause their existing business or home loan repayments for up to 6 months. Our team are ready to provide you with information and support to process these hardship requests on home and investment loans.
> Boost accessible cash flow-
We have a variety of unsecured loan products for businesses, including offers with zero account fees, zero establishment fees ands no repayments for up to 6 months.
> Reduction of interest rates and fees-
By taking advantage of the lowest interest rate offers we’ve ever seen in Australia and the many opportunities banks are offering to reduce or waive fees, much needed cashflow can be freed up to service your other expenses.
> Relief from rental and utility obligations-
Many utility providers have already launched relief measures for both home and business. Speak directly to your provider about available relief options. In terms of rental relief, there is a nationwide 6 month moratorium on evictions of both commercial and residential tenants. Government advice is to contact your landlord about what may be possible for your individual circumstances in terms of rental relief.
> Personal liability protection-
Legislation has been altered to protect company Directors from personal liability if trading insolvent, where debts are incurred in the ordinary course of business. Debts will still need to be paid, but steps can be taken to protect your business through this period.
> Superannuation accessibility-
The federal government has opened up access to $10,000 of your superannuation during financial years 2019-20 and 2020-21. No tax needs to be paid on this. We suggest this as a last resort and recommend discussing details with your financial planner or advisor.
If you’d like to discuss any of the above please call our dedicated contact centre between 9:00am and 6:00pm, from Monday to Friday.
Mental health and wellbeing during the coronavirus pandemic.
At Kooyong, we’re also very mindful that many of our clients in the medical community will be experiencing unprecedented stress and challenging working conditions on the frontline.
If you need urgent support, we recommend contacting one of the following hotlines:
Beyond Blue – 1300 224 636
Lifeline – 1800 551 800
In addition, Kooyong Group can provide our clients with direct and immediate access to specialist mental health professionals, to assist with the wellbeing of those affected by anxiety, concern or unprecedented stress.
To access this complimentary program you can contact us confidentially via:
wellbeing@kooyonggroup.com.au or on 1300 417 426.
On behalf of Kooyong Group, we would like to thank doctors, nurses and allied health professionals for putting themselves at significant risk to provide care for and protect the Australian public.