This morning in Sydney, St. George Bank underscored its intent to support the small business sector with the announcement of a three-pronged program to better support Australian small business owners.
Launched in Chatswood by federal Minister for Small Business Bruce Billson and St. George CEO George Frazis (pictured right), the bank announced three key initiatives for its small business customers. These include:
- The St. George Business Hub, a St. George-funded, fully serviced office space available for the bank’s small business customers to use at no cost, which St George expects to be heavily utilised by start-ups. The first hub will open in Chatswood in November, with more sites planned across the country, including a second Sydney site in the CBD shortly.
- The appointment of 50 new bankers to increase St. George’s capability to support the growth of business customers. These ne employees will comprise St George’s new Business Connect servicing model for small businesses.
- An allocation by St. George of an additional $2 billion in lending for small business to cater for anticipated increased demand from customers.
“I’m extremely excited to announce the launch of St. George Business Hub, which is a fantastic office space we’ve created for any small business to use while they get their business up and running,” St. George CEO George Frazis said.
“We are also currently rolling out an innovative new servicing model for small businesses called Business Connect, which is part of the reason we need an additional 50 bankers to join our team. Our new servicing model, additional bankers, increased investment and the launch of our Business Hubs will make it easier than ever for small business customers to do their banking. Access to funding remains a key issue for small business, so we want to tell small businesses that St. George has the capability and capacity to support their investment and growth goals.”
“Access to finance remains a serious issue for many start-ups and small businesses and it’s great to see St. George getting on board and helping out the sector,” Minister for Small Business Bruce Billson added. “Hubs provide a fantastic venue for small businesses to work on their ideas and to network with other like-minded people.”
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