Business Loans

Sep
10

Raising the bar for SME lending

For those who work in the finance industry, there appears to be no shortage of lenders and loans in the marketplace. However, for those running Australia’s 2.1 million small and medium-sized enterprises, it can be difficult to see the wood for the trees. With the intention of addressing this, in July six fintechs signed the Code […]

By Reposted by Australian FinTech | Borrowing . FinTech . Lending
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Sep
10

Prospa becomes first online small business lender to complete review of loan terms with ASIC

Prospa is the first online small business lender to have undertaken a full review of its loan terms after consultation with ASIC. Prospa has agreed to certain recommendations from ASIC in relation to removing or amending some of its contract terms. Some of these terms have, historically, not been relied upon, and other terms were […]

By Australian FinTech | Borrowing . FinTech . Lending
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Sep
06

Xero State of Lending Report: Funding gap is stifling small business growth in Australia

Research unveiled today by Xero suggests Australia’s small businesses could borrow as much as $80 billion over the next 12 months, if they could get the funding. Instead, small businesses are struggling to access the capital they require, in large part due to the complexity of the loan process. This is creating a funding gap […]

By Australian FinTech | Borrowing . FinTech . Lending
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Sep
03

Neo-lender raises $4m in capital

A neo-lender has raised more than $4million from shares, saying the investment acknowledges the transformation of the business. Wisr, which has also released its figures for the last financial year, provides personal loans and technology products to help borrowers. It will use the funds to take a more innovative approach on how loans are funded […]

By Reposted by Australian FinTech | Borrowing . FinTech . Investing . Lending
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Sep
03

GetCapital appointed to PLAN Australia aggregator panel

GetCapital, Australia’s award-winning specialist lender to small and medium sized businesses (SMEs), has announced its appointment to the lending panel of leading aggregator PLAN Australia from 20 August. PLAN is one of Australia’s largest mortgage aggregation groups, with over 1,650 members and a total loan book value close to $70 billion. The aggregator’s commercial and […]

By Australian FinTech | Borrowing . FinTech . Lending
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Aug
27

Australian fintech Axsesstoday net loan book doubles in size to $336m

Australian fintech Axsesstoday Limited (ASX: AXL) today released a bumper FY18 result, with its net loan book doubling in size to $336m. Net profit after tax (NPAT) also nearly doubled to $7.0m, achieving the twice-upgraded guidance. Improved profitability and loan book growth mean NPAT guidance going into FY19 is forecast to reach $12.5m-$13.0m, offering impressive […]

By Australian FinTech | Borrowing . FinTech . Lending
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Aug
16

Fintechs fill the void left by commission

Fintechs are filling the gap in SME lending as the big four banks concentrate on the fallout from the royal commission, according to one online lender. The fintech commercial lending space opened up in around 2013 and since then has reported an annual growth rate of around 79%. According to chief commercial officer at Moula, […]

By Reposted by Australian FinTech | Banking . Borrowing . FinTech . Lending
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Aug
13

OnDeck passes US$9 billion benchmark globally in online lending

Australian FinTech adoption outpacing most global markets; sector reaching maturity faster than US experience Development of quality online lending industry key to growing Australia’s small business sector; closing credit gap The OnDeck Group, representing the subsidiaries of the US-listed OnDeck Capital Inc., has announced that it has lent more than US$9 billion to more than […]

By Australian FinTech | Borrowing . FinTech . Lending
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