Search Result: credit clear

New research commissioned by OnDeck, a leading online SME lender, confirms that Anzac Day’s proximity to Easter combined with the upcoming Federal election will negatively impact many SMEs. The stars have aligned for the nation’s employees, who can look forward to a 10-day holiday at the cost of just three days’ annual leave, thanks to this year’s confluence of Easter and Anzac Day. However, it’s not so positive for SMEs, which are already bracing for the impact of the Federal election. The research found that 59% of SMEs surveyed say their business has been impacted by previous major political events, notably elections. Over one in four (27%) SMEs expect the […]

Research commissioned by OnDeck, a leading online SME lender, highlights the problems that small businesses face trying to secure finance. Two out of five SMEs surveyed have sought finance in the past. However, almost one in four (23%) have been knocked back by their bank. Rejection rates rise to 37% among businesses that have been in operation for less than five years. Noah Breslow, Global CEO of OnDeck, says, “What is particularly concerning, is that one in three SMEs rejected for bank finance have had to reach out to family or friends for funding, or have simply resorted to using a credit card.”   Lengthy finance approvals hurt SME operations […]