If you are an SME who has a concern regarding a Scheme loan, you are able to make a complaint to AFCA, however AFCA will not take into account decisions to lend under the Scheme or the amount of a loan. Borrowers will still be able to have complaints heard by AFCA for other decisions of the lender, such as issues related to hardship or enforcement.
If the lender requires a guarantee for a loan under the Scheme, the guarantor will still be able to make complaints to AFCA with respect to this decision.
If you are small business experiencing hardship and require assistance you can always contact the Small Business Debt Helpline, a dedicated small business financial counselling service. It provides free, independent, confidential and impartial phone-based support to small business owners nationally, regardless of the cause of their financial hardship.
Small business financial counsellors can help small business owners with:
- understanding business and personal debts and their implications
- grants that they may be able to access
- disaster relief
- options for payment arrangements
- a range of other support.
Further information is available on the Small Business Debt Helpline website. Small business owners can access the service by calling 1800 413 828 (between 9:00am to 5:30pm AEST, Monday to Friday).