Accounting software giant Xero Ltd is moving into lending to small business through invoice financing, announcing plans to acquire Sydney startup Waddle for up to $80 million. Xero (ASX: XRO) said the acquisition of the cloud-based lending platform aligns with its strategy to grow the small business platform and to address critical small business financial needs. “Waddle’s… Read more »
Australian Banking Association CEO Anna Bligh said to help small businesses impacted by Covid-19, banks will offer all small businesses with business loans a deferral of payments for six months. Bligh said this was put in place to help those most in need. The package is set to deliver across $100 billion worth of business… Read more »
The Morrison Government today announced an investment of up to $15 billion to enable smaller lenders to continue supporting Australian consumers and small businesses. The Government’s actions will enable customers of smaller lenders to continue to access affordable credit as the world deals with the significant challenges presented by the spread of coronavirus. Small lenders… Read more »
Leading SME lender OnDeck suggests small business owners looking to take advantage of the instant asset write off need to act quickly to secure finance.
A survey of the nation’s business owners by specialist business lender GetCapital has revealed SMBs believe access to capital is hindering their business growth.
Online lender Prospa continues to cement its place as a small business lender with the announcement it has surpassed $1 billion in loans to over 19,000 Australian small businesses. Unlike the big four banks who received considerable reputational damage following the finding of the Royal Commission into Banking, Prospa’s customer satisfaction remains consistently high with… Read more »
As we await the release of findings of the Hayne Royal Commission into the banking and financial services sector, Peter Langham CEO of Scottish Pacific Business Finance shares his thoughts on the likely impact on SMEs and the small business lending market. The impact will be far and wide. A nervous market needs to be… Read more »
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