22 Feb 2017
SME- Balance Sheet Lending
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
This is big, if you are a small business earning a minimum $200,000 per annum you would have already discovered that it is next to impossible to get any money out of the banks without offering residential property security.
That was the past.
Now, a European fintech call Spotcap has entered the market and is lending up to $250,000 on a unsecured credit basis to small and medium sized enterprises (SME).
Balance sheet lending such as this is common in the United States but almost never seen in Australia.
Warning, read the terms and conditions and take special care around the interest rate being charged because rather than expansion it could instead bankrupt the business.
At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.
