Small and mid-sized businesses will continue to bear the brunt of higher funding costs.
According to a new survey by JP Morgan and Fujitsu Australia, as the cost of funding rises for banks, the pressure on businesses will increase. About 90% of lending to small and medium sized businesses comes from the major banks, with NAB controling the greatest share at 26%, followed by Westpac (25%), CBA (24%) and ANZ (15%).
Small businesses are paying higher interest rates than the residential home loan sector. Lending to businesses has tightened over the last two years and the risk of losses have climbed.
If you are having difficulty getting business finance from your bank because of their tightening lending criteria, speak to one of the mortgage brokers at Intellichoice about alternative business finance solutions. Intellichoice has access to over 20 lenders who specialise in alternative business cash flow, such as invoice finance, trade finance, inventory finance and equipment rental finance.
Call 1300 55 10 45 or email info@intellichoice.com.au for more details. Visit www.intellichoice.com.au.
According to a new survey by JP Morgan and Fujitsu Australia, as the cost of funding rises for banks, the pressure on businesses will increase. About 90% of lending to small and medium sized businesses comes from the major banks, with NAB controling the greatest share at 26%, followed by Westpac (25%), CBA (24%) and ANZ (15%).
Small businesses are paying higher interest rates than the residential home loan sector. Lending to businesses has tightened over the last two years and the risk of losses have climbed.
If you are having difficulty getting business finance from your bank because of their tightening lending criteria, speak to one of the mortgage brokers at Intellichoice about alternative business finance solutions. Intellichoice has access to over 20 lenders who specialise in alternative business cash flow, such as invoice finance, trade finance, inventory finance and equipment rental finance.
Call 1300 55 10 45 or email info@intellichoice.com.au for more details. Visit www.intellichoice.com.au.
