Federal election will test the business preparedness of most SMEs
Research commissioned by OnDeck Australia confirms what many small business operators already know: A Federal election can be a real pain in the bottom line
Federal Election is no Easter treat for Australia’s small business community
Rejected by banks: SMEs struggle to secure finance
From devolution to revolution: re-bundling the banks
KPMG: Australia’s AltFin sector worth $1B
KPMG, an advisory and audit company, has released numbers that say Australia has a 32 percent share of the APAC alternative finance market, according to reports. The market has grown 88 percent year over year and it’s worth a total of $1 billion, the company said. This news comes in advance of the fourth edition of the AltFi Australasia Summit, which will take place in Sydney at the Doltone House on April 15. “This is the perfect time for challenger banks to enter the market. Through the use of technology and data we can provide our customers with greater control and transparency, and competitive rates,” said Volt Bank Co-Founder and […]
Unique marketplace driving alternative finance
The fourth annual AltFi Australasia Summit is approaching, with alternative finance leaders convening to discuss the future of the industry on 15 April. “Alternative lenders are currently facing a unique convergence of market happenings: reduced trust in traditional lenders, the upcoming shift to open banking, and the impending introduction of comprehensive credit reporting,” said the global CEO of alternative lender OnDeck, Noah Breslow. The 2018 Deloitte Trust Index for Banking revealed that less than half of Australians trust that their personal bank will keep its promises, and only 36% feel that their bank has their best interests at heart. According to Breslow, “This has created an opportunity to capture an […]
Top seven fintech business lenders compliant with new code of conduct
The seven largest online small business lenders have opened themselves to scrutiny by an independent oversight committee
SME lender expands equipment finance
An online lender has expanded its offering of equipment finance, saying it is providing a solution for the “underserved” market of small business owners. OnDeck Capital Australia said it had received feedback from small businesses and brokers about the length of the loans. The lender found that a lot of equipment had useful lives longer than the length of repayments. Small businesses can also find it difficult to get funding from mainstream lenders. Cameron Poolman, Chief Executive Officer of OnDeck Australia, said brokers often speak to OnDeck about the challenges they encounter obtaining traditional finance solutions for nonprimary assets. He said, “These include assets such as catering equipment, gym equipment, […]
