Business Loans

May
20

Fintech lender raises $8m and banks on Prospa IPO boost

Prospa rival Lumi is banking on a growth spurt when its competitor in the non-bank small business lender market lists on the ASX in coming weeks.

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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

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May
15

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

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May
14

Greensill to challenge Citi with $1.15b boost from Softbank

Rich Lister Lex Greensill says a $1.15 billion equity injection from Softbank, the largest-ever venture capital investment in an Australian private company.

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May
13

Smartline adds SME lender to panel

Smartline Mortgage Advisers has brought Prospa onto its lender panel to provide Smartline brokers with greater product choice for clients.

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May
09

YOZO a quick and open answer to the business lending maze

YOZO is redefining lending for small business by offering a transparent and seamless experience for their borrowing needs.

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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 […]
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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 […]
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