Standard Bank gives 3 month 'payment holiday' for small businesses

JOHANNESBURG - Standard Bank has announced a three-month payment holiday for small business owners in South Africa in a move aimed at softening the blow of the coronavirus pandemic on consumers.

WATCH: Small businesses to receive COVID-19 fund relief

Small businesses will only be eligible if they have a turnover of no more than R20-million per year.

Their business accounts must also be up to date.

The bank has also approved a payment holiday from 1 April to 30 June for student loan customers who are studying full time.

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Source
eNCA