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Wednesday, 28-Aug-2013 01:58 Email | Share | Bookmark
Katahdin Trust says it wasn’t among banks misusing small-busines

Banks say small business loans riskier than ever

On top of that, when they didnt increase lending there should have been enforcement. Katahdin Trust received $10.4 million in January 2009 through TARPs Capital Purchase Program. It then received $11 million in August 2011 through SBLF, which was used to pay back the TARP funds, Prescott said. We were required to retire the Capital Purchase Program funds before we could get into the SBLF, he said. Katahdin Trust has performed better than most of its peers, increasing its small-business lending by 21.3 percent, from a baseline quarterly loan amount of $138.9 million calculated by taking the average of the small-business loan amounts for each of the four quarters ending June 30, 2010 to $168.5 million of small-business loans in the quarter ending Sept. 30, 2012, according to the Treasurys Use of Funds report issued in January 2013. That means Katahdin Trust loaned out $2.65 for every SBLF dollar it received. <br>For the original version including any supplementary images or video, visit

Representatives from Westpac, St George and ANZ have appeared before the parliamentary committee which is looking at the ability of small and medium businesses to access finance. The committee says there is a public perception that banks are taking less risks, but earning big profits. The Reserve Bank of Australia told the hearing in Sydney that lending to small business is still below levels before the Global Financial Crisis of 2008. But the RBA's (visit site) Guy Debelle says lending to small business does appear to be slowly increasing. "We are seeing some signs that the banks are looking to compete more aggressively for small business," he said. "So if you think about where things were in 2007, the standards were relatively easy. "They tightened up over the subsequent couple of years, but now there does seem to be some sign that banks are willing to lend." But the chief product officer for Westpac, Jim Tate says that nearly three years after the GFC, it is still a risk for banks to lend money. "At the moment it is a much riskier proposition to borrow and raise money than it would have been four to five years ago," he said. "In terms of where the bank has to go to get its money, the risks have never been higher." <br>For the original version including any supplementary images or video, visit

Why SMSF loan for property acquisitions?

About 32 per cent of small businesses responding to a CPA Australia survey last year said finance was easy to find, down from 36 per cent the previous year. This put Australian businesses ahead of their Hong Kong counterparts (22 per cent) but behind New Zealand small businesses (42 per cent). ANZs general manager of small business, Nick Reade, said the commitment was aimed at easing cash flow for new starters. End of sidebar. Return to start of sidebar. We know the first few years of funning a small business can be challenging so today we are pledging to lend $1 billion over the next year to help Australians realise their business dreams, he said. A lot of new small business owners thing that its only big businesses that get loans from the banks but thats not the case. In the last year, we approved more than seven out of every 10 lending applications from new small businesses. Australian banks advanced $78.6 billion in new lending to businesses in the December quarter, Reserve Bank data shows, still below the peak of $111.9 million in December 2007. This would mean ANZs commitment would boost available finance but more importantly, boost small business confidence. <br>For the original version including any supplementary images or video, visit

ANZ targets new small businesses with $1bn in loans

Email the link to this page to a friend Friend's Email Address Your message Enter below security code Real Estate property investment through SMSF loans is no doubt the most tax-savvy and smartest way to improve the total return on investment of a superfund. You can avail self managed super fund (SMSF) loans to buy investment properties and enjoy quick returns. All it requires is a smart property investment strategy. Whether you want to effectively turbo-charge your overall retirement savings or you wish to make your super fund a healthy source of income in near future, you might as well work on a property investment strategy backed by various SMSF loan packages. Read on to know why SMSF loans for property acquisitions have been so popular with Australian residents: 1. It doesnt matter if you dont have an SMSF already. <br>For the original version including any supplementary images or video, visit

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