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The Commonwealth Bank of Australia announces changes to business lending process
mpamag.comThe Commonwealth Bank of Australia (CBA) has announced new changes to its business lending process that will allow for shorter decision times for eligible small business customers – from three days to instant.
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US community banks say lending is ripe for digital transformation, Finastra research reveals
Finastra survey, produced in collaboration with East & Partners, indicates that American community banking leaders are seeking fintech partners who can help progress innovation and provide clear return on investment
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Media Release: NSW SMEs hit hardest by rising wages and red tape costs
Rising wages and compliance costs top the list of growing cost pressures for Australian SMEs, with small and medium businesses in NSW the most heavily impacted.
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Australian SMEs turn towards non-bank lenders to fund growth: ScotPac
Australian small and medium businesses are being urged to sit down with financial advisors and re-evaluate their options in 2023 as COVID-19 stimulus funding begins to dry up.
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Non-bank funding replaces COVID stimulus measures for SMEs One in five plan to divest or merge opera
A quarter of Australian SMEs added non-bank funding facilities in 2022 following the termination of government COVID stimulus and support programs, more than double the figure of 12% a year earlier. A further 20% of SMEs said they intended to divest or merge their operations in 2023.
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Supply chain problems continue to plague SMEs
A new survey by SME lender ScotPac has found 100% of Australian SMEs have been hit by supply chain disruptions and, as a result, two in three are increasing their prices.
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Supply chain issues drive SME alternate funding support: ScotPac
Rising inflation and increased costs are being offset — or absorbed — by Australian SMEs quite differently, ScotPac’s latest Growth Index has revealed.
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Why Small Business is Big Business
In this feature, we're taking a look at the issues that are currently facing SMEs as we approach the holiday season and what brokers can do to help them out.