So where do small businesses in Australia go to get funding. The small business loan market in Australia is tiny by any measure but did you know that the factoring and invoice discounting market is a $60 billion market! That’s huge. Now admittedly that $60 billion isn’t all going to small business – there’s some very sizeable businesses using invoice discounting in Australia. But the point is that is the absence of traditional lending to small business new products and new players have appeared to fill the gaps.
Below is an example of some the products and players that are serving small business and serving them well:
Invoice Discounting and Invoice Factoring in Australia
Bank Providers- Bank of Queensland, Bendigo Bank, NAB
Merchant Cash Advance Facilities in Australia
Equipment Finance in Australia
Small businesses in Australia do have some options for financing – but they need to pick the product that matches their need and also do their homework – fees and charges on some of these products can be high.