Small businesses claiming millions with CommBank digital feature

Clare Morgan, Executive General Manager, Small Business Banking at Commonwealth Bank

Commonwealth Bank, reveals 12,500 Australian businesses initiated about $93m in claims via CommBank’s digital feature, Benefits finder, between June and December 2021.

Commonwealth Bank’s aids businesses access benefits

During this time, over 100,000 businesses visited the dedicated Benefits finder for Business dashboard that provides access and simple instructions on how to apply for business-specific financial benefits such as state and federal COVID support measures, growth-focused grants, environmental rebates, and also non-financial benefits such as free training courses.

Of the claims for financial business benefits (grants and rebates), the average value of claims initiated by a business via Benefits Finder is just under $11,000.

Commonwealth Bank’s commitment to digital tools

Commonwealth Bank Executive General Manager, Small Business Banking, Clare Morgan said: “We’re continuing to invest in our digital tools and products to make it easier for our customers to run their businesses, and that includes expanding Benefits finder.”

“We are moving quickly to keep updating the digital feature for businesses, with new grants, rebates and other benefits continually added every month and in response to real-time events, such as the major flooding across Australia’s east coast.”

“In recent weeks, we’ve updated Benefits finder with state-specific special disaster assistance grants for flood-impacted businesses. This is in addition to CBA’s Emergency Assistance, and the aim is to help those impacted customers find the right support more quickly.”

“Every business has different needs and Benefits finder helps them access support more quickly to, ultimately, put more money back into their business,” said Ms Morgan.

For the full release and report, visit CBA Newsroom.