the adviser logo

ABA and COSBOA launch SME finance guide

by Reporter4 minute read

A new website has been launched to provide a “step-by-step guide” to applying for small-business loans.

The Australian Banking Association (ABA) and the Council of Small Business Organisations Australia (COSBOA) have launched a new website, providing a range of resources for aspiring small-business owners, including a step-by-step guide to applying for finance. The website contains content developed in conjunction with CPA Australia previously.

To continue reading the rest of this article, create a free account
Already have an account? Sign in

The website (financingyoursmallbusiness.com.au) contains templates, checklists and other information pertaining to creating a business plan, using a trusted adviser, and applying for small-business finance. 

Coinciding with the launch of the website, the ABA released a report, titled SME lending in Australia, which stated that 94 per cent of loan applications submitted by small businesses to ABA member banks had been approved in the last 18 months. 


However, the number of applications lodged has fallen by 33 per cent since 2014.

Commenting on this finding, ABA chief executive Anna Bligh said: “There could be many reasons for the downturn, including believing that they won’t get a loan, thinking it takes too long, deeming the application process too complex, or they’re simply borrowing money from other sources.  

“Encouragingly, there has been a lift in the June quarter. It’s early days, but we hope that it will continue.”  

The launch of the Financing Your Small Business website follows that of the Business Funding Guide developed by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell in partnership with Scottish Pacific Business Finance. 

The Business Funding Guide, however, is targeted towards brokers, accountants, bookkeepers and financial advisers “because of the key role they play in helping business owners with financial decisions”. 

The ASBFEO-Scottish Pacific guide covers a range of topics, including: tips for getting business accounts in order, what a business plan should include, finance fitness checks, how to identify the right type of funding, debt options and other relevant resources.

[Related: New SME funding guide launches]

ABA and COSBOA launch SME finance guide
TheAdviser logo


You need to be a member to post comments. Register for free today


mark pesce futurist ajxjkn

Automation is changing, not replacing, the role of finance brokers

On Thursday (4 August), the Australian Financial Review (AFR) ran a story with the headline: “Finance brokers top...

des hang carbar zaheer jappie carclarity ta qtvnqr

CarClarity confirms partnership with car subscription platform

Established in March 2020, CarClairty is a finance platform that connects car buyers with more than 30 different...

anthony albanese profile ta vtpifc

Further grants confirmed for flood survivors, $47m pledged

According to a statement released by the federal government, the Back Home grant will be made available to impacted...

Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more