Tag: Loan

Australian small-to-medium-sized enterprises (SMEs) are increasingly turning to longer-term loans to navigate economic challenges.

Insolvencies and late payments climb, while more SMBs and Sole Traders experience mortgage stress.

A new report finds that an alarming number of Australian SMEs struggle to access business loans, despite increasing loan values.

Small businesses use personal asset loans to secure the short-term financing they require to succeed.

On December 13, the government announced a proposal to change the Scheme Rules to expand the SME Recovery Loan Scheme (under different terms).

Between the bushfires and the pandemic, many Australian companies have experienced a significant drop in revenue and have had to make employees redundant. Although JobKeeper has enabled them to keep some of their people employed, the program is scheduled to end in September. Even if it continues at a reduced level of funding, CEOs who […]

As a result of the COVID-19 pandemic causing business disruptions of an unprecedented scale, alternative lender Lumi has today called for lenders to put aside their differences and create partnerships to avoid finance bottlenecks in light of the government’s $15b injection announcement to small business loans. Due to the data and technology capabilities Lumi and […]

Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has encouraged business owners to urgently contact her office if they have experienced “heavy handed tactics” by the Australian Taxation Office. The Ombudsman, together with the inspector-General of Taxation Ali Noroozi, has been directed by the Treasury to examine cases of unfair conduct the ATO. The investigation, […]

Considering the small business sector employs nearly half the national workforce and contributes around $380 billion to Australia’s GDP [1], it’s easy to see why it’s frequently referred to as the ‘engine room’ of the economy. Like all engine rooms, the sector requires sufficient fuel – in this case, working and growth capital – to […]

The Australian Securities and Investments Commission (ASIC) has released a report detailing changes made by the big four banks to remove unfair terms from their small business loan contracts of up to $1 million. The report, Unfair contract terms and small business loans, also provides detailed guidance to bank and non-bank small business lenders about compliance with […]