Victorian businesses were surely excited when the state government recently announced a $3bn support package in cash grants, tax relief and cashflow support for businesses crippled by the state’s coronavirus lockdown.

In light of the new support package, the state government has expended over $6bn in business support since the start of the pandemic. It includes more than $1.1bn in cash grants to assist small and medium sized businesses most affected by coronavirus restrictions, including $822m as part of a third round of payments through Victoria’s business support fund.

A cash grant scheme that has already given $1.47 bn to 108,000 businesses will also be expanded. It is expected that around 75,000 eligible businesses with payrolls of up to $10 million will receive grants of between of $10,000, $15,000 or $20,000 depending on their size.

While the government support is warmly welcomed, it is evident that for a large number of SMEs, the assistance is not enough.  “Whilst the state government’s announcements offer some support to larger businesses, particularly larger traders in the hospitality sector, the vast majority of small businesses in Victoria remain without support,” Small Business Australia executive director Bill Lang, said.[1]

It won’t be long before debts owed on rents, leases, bank loans and payments to other creditors accrued during lockdowns are called in, with the potential to bankrupt many SMEs.

Victorian businesses will need to make smart decisions to ensure their finances see them through this period, and out the other end. UnLock, an Australian Buy Now Pay Later B2B solution that fills in funding gaps where there are delays, is helping businesses nationwide. The UnLock payment gateway provides more financial freedom for small and medium sized businesses to improve their working capital and achieve financial flexibility as required in the current operating environment. 

UnLock provides a business with the opportunity to meet supplier payment terms that wouldn’t have been possible on their own. By paying the business’ suppliers, UnLock extends supplier terms from 30, 60 or up to 90 days, for a small premium.

This solution frees up a business’ cash flow that can then be redirected towards staff wages, equipment, stock or other essentials.  An UnLock facility compliments and works in conjunction with any existing banking facilities, ensuring bank funding is not impacted or business slows down. Businesses can use UnLock funds before sales are acquired, starting from $50,000, immediately rather than dipping into their accounts.

“UnLock is an attractive option for SME’s. It makes good business sense to delay some significant invoices as much as you can to help from a cash flow point of view. You’re essentially making your accounts work for you better, which is essential for a small business, and enables it to maintain good supplier relationships,” says Leo Tyndall, CEO and founder, Marketlend.

See how UnLock can help your business, visit or email UnLock at or call 1300 307 136.