The non-bank lender is calling on brokers to nominate SMEs that have been hard-hit by COVID-19 to go in the running to receive $5,000.
Oak Capital has launched a new initiative that aims to support small and medium-sized businesses impacted by the COVID-19 pandemic.
As several states and territories navigate lockdown conditions due to the unfolding Delta outbreak, SME lender Oak Capital has said it is hoping to help those struggling by giving away $5,000 to a business in need in August and September.
Oak Capital’s head of distribution, Nick Green, said that the Pay It Forward initiative demonstrated Oak Capital’s commitment to the Australian SME sector outside of its lending products, and comes in recognition of the pressures small businesses are currently facing.
“Let’s be honest, lockdown has been rough on everyone, but it’s hit SMEs harder than most,” the lender said on LinkedIn.
“That’s why we’ve decided to do something about it. It’s called Pay It Forward.
“Recognising the tremendous pressure so many small businesses are under right now we’ve decided to give away $5,000 to a business in need in August and September.”
August’s chosen SME will be announced on 1 September 2021.