The continued impressive growth achieved by Prospa post last year’s aborted IPO coinciding with the fall out from the Banking Royal Commission highlights just how important non-bank lenders have become for the future of Australian small businesses. Prospa is the dominant player in the online small business lending sector and the first to IPO. The […]
We are pleased to publish this easy to understand and independent guide to what SMEs need to know when considering whether to borrow from a fintech lender. Fintechs are playing an increasingly important role in enabling SMEs to access funds to maintain and grow their businesses but borrowing from a fintech is different to borrowing […]
In the two weeks since the release of the final report into Misconduct in the Banking, Superannuation & Financial Services Industry, rather bizarrely the most contentious recommendation deals not with bank misconduct but mortgage broker remuneration. This was primarily a Royal Commission into misconduct by the big four banks and they were lambasted by Kenneth […]
The extensive media coverage of the Royal Commission’s findings contain very few references to the SME sector. This is possibly because the report contains only six recommendations, four of which relate solely to the farming sector. We briefly discuss these recommendations then explain why for the foreseeable future SMEs can expect continued pain before exploring […]
Fintech lenders Capify, GetCapital, Moula, OnDeck, Prospa and Spotcap have collaborated with the Australian Finance Industry Association, the Australian Small Business and Family Enterprise Ombudsman, theBankDoctor.org and FinTech Australia to produce a Code that will improve transparency and disclosure in this important alternative source of debt funding for Australian SMEs. The Code will inform SMEs […]
Prospa’s impressive growth trajectory is set to receive a boost when it becomes Australia’s first online small business lender to list on the ASX. But the prospectus exposes issues of transparency for the acknowledged market leader in what is a largely unregulated market. Propsa will raise $146m of new capital of which $100m will fund […]
theBankDoctor, Kate Carnell & Fintech Australia have published a detailed report on improving transparency in the fintech business lending sector. This project has been twelve months in the making and represents a line in the sand on industry self regulation which is needed to ensure this rapidly emerging sector fulfills its potential of becoming a […]
theBankDoctor.org, Kate Carnell, the Australian Small Business & Family Enterprise Ombudsman (ASBFEO) & Danielle Szetho, CEO of the industry association Fintech Australia (FA) have published a detailed report on improving transparency in the fintech business lending sector. This project has been twelve months in the making and represents a line in the sand on industry […]
Predatory lenders exist in the SME space just like the payday personal lenders. The risk is the less scrupulous operators will spoil an exciting new source of SME funding. American small business borrowers now have a Bill of Rights which will afford significant protection from predatory lenders. US lenders which join the Responsible Business lending […]
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