A $2 billion securitisation fund, designed to improve access to finance for Australia’s SME sector, has passed both houses of Parliament.
Both houses of Parliament have approved the federal government’s bill to lift the instant asset write-off for SMEs to $30,000.
Mortgage brokers have been encouraged to step into the SME lending space amid new research highlighting the burgeoning demand for finance in the sector.
A new entrant in the SME lending space has secured a $100 million debt facility, which it said would broaden its offerings and “accelerate” its growth.
The SME lender has announced that it has hired its first general manager to head up operations in New Zealand.
The banking association is hesitant to support Commissioner Kenneth Hayne’s recommendation to change the definition of a small business.
Access to credit for small businesses is expected to be hindered further off the back of the banking royal commission, according to new research.
The Coalition government has formally introduced two pieces of legislation in parliament designed to enhance the financial position of SMEs.
New research has shed light on credit constraints in the SME space, compounded by a lack of trust in banking institutions.
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