Search Result: credit clear

Prospa announces IPO
May
17

Prospa announces IPO

Prospa, Australia’s #1 online lender to small business, announces an offer of new shares at an offer price of $3.78 per share to raise $109.6m via an IPO

ASX . Borrowing . FinTech . Investing . Lending
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Nayax Australia to work with First Data for all customer transactions
May
07

Nayax Australia to work with First Data for all customer transactions

Nayax Australia, a leading global fintech company, has partnered with First Data for processing all of their customer transactions.

FinTech . Payments
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Federal Election is no Easter treat for Australia’s small business community
Apr
17

Federal Election is no Easter treat for Australia’s small business community

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 […]
Borrowing . FinTech . Lending
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Rejected by banks: SMEs struggle to secure finance
Apr
15

Rejected by banks: SMEs struggle to secure finance

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 […]
Borrowing . FinTech . Lending
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From devolution to revolution: re-bundling the banks
Apr
12

From devolution to revolution: re-bundling the banks

Glenn Hodgeman, owner of the AltFi Australasia Summit, suggests that re-bundling and white labelling may be the future of lending in Australia. As Bill Gates once famously stated, “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten”. But given the current state of banking in a post-Hayne world, I personally suspect the next two years in financial services will be specifically characterised by rapid change. Traditional lenders are now facing more than just pressure from the growing wave of alternative and non-bank lenders: they are also now staring down the barrel of a regulator with […]
Banking . FinTech
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DomaCom secures $50 million property funding facility with La Trobe Financial
Apr
01

DomaCom secures $50 million property funding facility with La Trobe Financial

ASX-listed DomaCom Limited (ASX:DCL) has today announced that it has partnered with La Trobe Financial to provide property investors using DomaCom’s fractional property investment fund with a credit facility. An initial A$50 million facility has been provided by La Trobe Financial that will allow investors to acquire approximately A$100 million of leveraged property through the DomaCom Fund. The facility will provide up to 60% leverage for investors and Self-Managed Super Funds (SMSFs) at a competitive 5.99% pa. Enabling the use of lending when purchasing investment properties is a key addition to the DomaCom product offering, which places the Company in a strong position to almost triple its Funds Under Management […]

FinTech . Investing
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Prospa momentum continues as loan originations surpass $1 billion
Mar
13

Prospa momentum continues as loan originations surpass $1 billion

Prospa, Australia’s number one online lender to small business, is pleased to announce its pro-forma results for H1 FY19. Total loan originations for H1 FY19 were $225 million, up 10% on the forecast of $204 million and up 44% on a pcp basis. Total loan originations for CY18 were $436 million, up 13% on the forecast of $386 million and up 51% on a pcp basis. Prospa’s total loan originations have now surpassed $1 billion comprising A$1 billion in Australia and NZ$10 million in New Zealand, delivered to over 19,000 small businesses as demand continues to grow. Revenue is ahead of forecast with H1 FY19 revenue $67.7 million, up 8% […]

Borrowing . FinTech . Lending
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An accountant’s guide to comparing Fintech business loans
Mar
13

An accountant’s guide to comparing Fintech business loans

How can you objectively compare the loan pricing metrics between the different online business lenders and make the most informed decision possible? Assisting your small business clients with finance can be challenging with so many options out there from both banks and newer alternative finance providers. As traditional lenders have tightened their credit conditions and pulled back on SME lending, the rise of online, fintech lenders is providing small businesses with new opportunities to fund their growth. However, how can you objectively compare the loan pricing metrics between the different online business lenders and make the most informed decision possible? The answer is with SMART Box™. The SMART Box™ Loan […]

Borrowing . FinTech . Lending
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