Although the big banks still dominate the SME market, business owners are switching to regional banks in increasing numbers. Small business owners continue to be the most disadvantaged sector when it comes to dealing with the banks. East & Partners latest Business Banking Index survey, which monitors business customer behaviour towards banks, found SMEs (turnover […]
Borrowing from family and friends is a very common way of financing a small business. Business owners approach family and friends different reasons. It might be that there is an immediate opportunity but there isn’t the time to get a bank loan or maybe the bank has said “no”. Borrowing from family and friends can be a quick […]
The first bank to partner with a fintech could dominate SME lending In 5 years time, Fintechs will dominate the market for unsecured small business loans up to $250k. There are thousands of credit worthy SMEs who are more than capable of servicing and repaying a loan of up to $250k but they can’t get […]
Everyone who works in Banking & Finance should take The Oath. Established in April 2012 the Banking & Finance Oath contains a set of commitments that individuals working in the finance sector are encouraged to adopt and apply as personal principles in their work. To date just over 500 people have signed the oath which […]
The emergence of disruptors using finance technology (hence fintechs) onto the SME lending scene is welcome news for the thousands of credit worthy small businesses which still struggle to get finance from banks. These disruptors could well become dominant in unsecured lending to small business but they are not a panacea for all SMEs which find it difficult […]
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