#Bank Loans
Financial democratisation: The people are now dictating the money game, not banks
Demand, competition and technology are driving seismic changes in the financial landscape, with power heading from the banks to the people…
Lack of millennial home ownership results in rejected business loans
Nearly half (44%) of Gen Y (also referred to as millennials) small businesses have applied for finance in the last year and more than a third (39%) of those applications were declined. This is according to the latest findings from the MYOB Business Monitor. The report, which explores the state of play of 1,000 Australian […]
National research reveals SMEs’ top five funding frustrations
Around 9 out of 10 Australian SMEs are frustrated about their business funding, naming onerous loan conditions, having to provide property security and a lack of flexibility as their major concerns. These are the findings of the latest SME Growth Index, conducted independently by banking market analysts East & Partners, on behalf of national working capital […]
The implications of giving a personal guarantee
You’d be surprised how many business owners sign a personal guarantee with the bank without fully understanding the risks, which can be as extreme as loss of the business and the family home.
How to become BFFs with your bank manager
We asked a handful of banking experts for their top tips on fostering an effective two-way relationship with your business bank.
NAB undercuts Westpac rate rise
National Australia Bank has sparked a home loan rate war by undercutting Westpac’s interest rate rise of 45 basis points earlier this week, keeping their interest rate rise in line with the Reserve Bank’s increase of 25 basis points. The interest rate rise will take NAB’s standard variable home loan rate to 6.49 percent, effective […]
Maintaining better business banking relationships
Choosing the right bank is not just a matter of comparing products and facilities. It’s also about choosing the right finance partner. Consider these suggestions, so you can better maintain business banking relationships and get the most from your bank. The relationship between a business and its bank is one of the most vital and […]