Big four banks to speed up loans for businesses applying for JobKeeper amid coronavirus crisis, Josh Frydenberg says

Treasurer Josh Frydenberg says Australia's big four banks have agreed to speed up loan applications from businesses who are waiting for JobKeeper payments to come through. Key points: Businesses need cash to pay their employees before the JobKeeper payments come through at the start of May Businesses need cash to pay their employees before the JobKeeper payments come through at the start of May Banks will now prioritise "bridging finance" to get businesses through the rest of the month Banks will now prioritise "bridging finance" to get businesses through the rest of the month The JobKeeper scheme is expected to help more than 6.7 million workers Mr Frydenberg said the big four banks had agreed to special measures to help businesses pay their staff in the period before the payments arrive in the first week of May. Prime Minister Scott Morrison said the agreement was part of the Government's ongoing work to help businesses affected by the widespread coronavirus shutdowns stay afloat and continue to pay their employees. Stay up-to-date on the coronavirus outbreak Download the ABC News app and subscribe to our range of news alerts for the latest on how the pandemic is impacting the world "For these arrangements to work, we obviously need continued strong cooperation from the banking sector and from the superannuation sector," Mr Morrison said.