Posts tagged "sme lending"

Despite allegations of fraud, strong-arming and abuses of power, Australia's big four banks say SME lending framework is broadly appropriate.

The code covering SME lending requires a major overhaul to protect businesses from the power of the big banks, Australia's small business watchdog says.

"Cabinet-level" discussions are taking place about a solution to improve small business funding as momentum builds for commercial solutions.

The royal commission's interim report hasn't paid adequate attention to the experiences of small business owners, advocates say.

A slew of challenger banks are poised to burst onto the Australian finance scene, but who are the startups taking on the big four?

Six Australian fintechs have signed a newly minted code of practice to improve transparency and bolster confidence in the small business lending space.

Small business lending startup Prospa has reportedly postponed its IPO on the ASX indefinitely, after it announced a 48-hour delay 30 minutes before it was due to list on Wednesday.

Six-year-old small business lender Prospa has led the charge on opening Australian fintech lenders up to shareholders, and is slated to list on the ASX this week via a $146 million initial public offering.

The banking royal commission has heard how the Commonwealth Bank delayed reporting a “glitch” that caused thousands of small businesses to be overcharged interest on bank overdrafts.

The banking royal commission has shone a spotlight on franchising and the practice of banks to pre-fill forms for small business owners, but some are worried the fallout will make it harder for businesses to get bank loans.

Australian fintech lenders have committed to creating an industry code of conduct and introducing easy to understand contract summaries, aft…

ANZ Bank will soon refund $10.2 million to small business credit card users after failing to properly disclose fees for one of its products,…