Search Result: study loans

Aug
07

Will property crowdfunding take off in Australia?

Investors who feel bewildered by the ever-changing regulations on bank loans and costly mortgages should consider entering the Australian property market through crowdfunding. A new study conducted by the University of South Australia (UniSA) in partnership with DomaCom, suggests that crowdfunding could become a viable new vehicle for investors trying to make headway into the country’s increasingly challenging property market. Braam Lowies, the study’s lead researcher, noted that while the concept was relatively new in Australia, it had been successful in the United States and United Kingdom for approximately seven years. Young investors should consider crowdfunding A survey conducted as part of the study showed that crowdfunding attracted a mix […]

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Jul
12

What online finance can give you that the Big Four can’t

With dissatisfaction among the big banks continuing to rise, more Australian SMEs are attempting to figure out how they can use alternative lenders to grow their businesses. But that’s easier said than done. With so many alternative lenders arriving in Australia, it can be difficult for SMEs to figure out which is going to best suit their needs for unsecured business loans. How can they start? According to the recent SmartCompany SME survey, which questioned hundreds of SMEs around Australia, 25% of readers said they wanted to get a business loan in two years. Of those, 51% said they would approach one of the big four banks, and 31% would […]

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May
31

Survey: 89% of businesses never heard of “fintech”

by Elizabeth Barry, finder.com.au It’s bad news for fintech startups… A new study from “Find-a-Tradie” site ServiceSeeking.com.au has found that 89% of trades and service providers don’t know what “fintech” is. Fintech, which refers to financial technology, has become increasingly prevalent in the small business space. It has also filled funding gaps left by larger banks and created new platforms and products for SMEs. However, it appears “fintech” lacks awareness in the broader business community. “Fintech has a long way to go to achieve widespread adoption and the banks seem fairly well entrenched across the spectrum of financial products,” says ServiceSeeking.com.au CEO Jeremy Levitt. “An overwhelming majority of these SMEs […]

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May
30

The other credit risk to watch in China: Fintech-fuelled debt

China’s government has copped what Scott Morrison is so desperate to avoid: a credit rating downgrade. But in the discussion about Moody’s surprise move last week to cut its rating for our biggest trading partner, there’s one word that has been notably absent, even though it’s a risk of growing importance to investors and officials. That word is “fintech”. Nowhere are the large potentially huge benefits of fintech – and longer-term risks – clearer than in China. This realisation comes as financial regulators everywhere, including in Australia, start to turn their attention to how these risks could eventuate, if fintech one day grabs a larger share of the financial services […]

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OnDeck launches ‘Turn That No Around’ campaign

Small business loan specialist OnDeck Australia has kicked off a campaign, #turnthatNOaround, targeted at small business owners who are looking to seize growth opportunities, but are unable to do so due to lack of funding from traditional sources. The campaign, which is already running on radio, is scheduled to run across outdoor, social (LinkedIn and Facebook) and digital media to encapsulate an integrated multi-channel outreach. With the #turnthatNOaround campaign, OnDeck aims to reach small business owners who have experienced a “no” from their banks, giving them an opportunity to secure a loan that is much faster than the banks – it takes just one business day. “Small business owners, which […]

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Feb
14

Peer to peer economy now worth over $15 billion a year

Higher levels of consumer trust in the sharing economy, have coincided with a $600 million increase in size over the past six months, according to a newly released report. The bi-annual Sharing Economy Trust Index, produced by peer-to-peer lender RateSetter, showed that trust in ride sharing platforms such as Uber and online marketplaces like eBay have grown the most. “Our research found that trust levels in the sharing economy have increased substantially over the last six months,” said Daniel Foggo, RateSetter CEO. With the sharing economy now worth over $15 billion a year, the study revealed that over two thirds of Australians actively participate in the market – whether by […]

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Feb
03

Kate Carnell urges pressure on banks to change

Small business ombudsman Kate Carnell will today issue a strong warning to government that after 17 inquiries into the banking industry since the GFC the time has come to put pressure on the banks to change their practices. Carnell’s report on small business lending is due to be released today by Revenue and Financial Services Minister Kelly O’Dwyer and Small Business Minister Michael McCormack. It will say the banks have treated small business unfairly. The recommendations include blocking default action on loans under $5 million where the business has complied with the terms. It also wants a revised code of conduct from the banks written in plain English and with […]

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Aug
11

The fintechs targeting SMEs

Fintech companies have increasingly started targeting SMEs looking for ways to finance their businesses, but fintechs shouldn’t expect a revolution without a few setbacks. At least, that’s the view of some of the industry’s own experts and participants. With the market having had a few years to run its course, digital lenders, payment platforms and other financial technology firms have been given a warning: change, or face extinction. The changing face of fintech In lieu of more banking alternatives, fintech companies have increasingly started targeting more specific niches. It’s these businesses – not just those offering simple loans – that will end up surviving a glut of entrants, experts say. […]

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