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Trucking industry welcomes small business loan deferrals

20 March 2020

The Australian Trucking Association (ATA) has welcomed the banking industry’s small business relief package, announced today.

Under the package, Australia’s banks will defer loan repayments for small businesses affected by the coronavirus epidemic for six months.

ATA Chair Geoff Crouch said that trucking was an industry of small businesses.

“52,000 of Australia’s 53,200 trucking businesses have fewer than 20 employees. Of these, 28,900 are owner-drivers,” Mr Crouch said.

“Many of these businesses will need financial help in the months to come. The banks have stepped up today with a very positive and welcome decision.”

The ATA today released its proposal for additional Australian Government support for the trucking industry. The proposal includes a 12 month government guarantee for small/medium business equipment loan repayments, on top of the banks’ announcement.

The ATA and its member associations collectively represent the businesses and people of the Australian trucking industry. Together, the ATA and its members are committed to safety, professionalism and viability.