Westpac is aiming to lend $1 billion to Australian businesses by the end of September through its Business Boost campaign announced on Wednesday.

The Business Boost campaign offers a range of incentives for commercial businesses and small enterprises wanting to position themselves for future growth. These incentives include Westpac paying up to $20,000 in certain transition costs for business loans of $250,000 or more refinanced to Westpac.

Westpac RBB Group Executive Rob Coombe said that Business Boost was the third stage of the bank’s extended campaign to support the future growth and prosperity of Australian businesses.

“Westpac is open for business - we want to lend one billion dollars to Australian businesses in the next six weeks,” Mr Coombe said.

“We believe that the fundamentals of the Australian economy, such as our low unemployment rate, high terms of trade and high savings rate remain sound, despite the nervousness which is apparent in economies overseas.”

Westpac’s Business Boost offer is open to all small and commercial businesses across Australia.