To help make it easier for small businesses to access finance, Australia’s banks have developed a website that explains what banks look for in assessing loan applications.
It features a step-by-step guide to completing a loan application – including the do’s and don’ts – with particular emphasis on preparing a business plan.
Before applying for a loan, it is important for small businessess to decide if debt finance is right for them. The website shows how different types of finance may suit different small businesses.
The website was developed in conjunction with CPA Australia and with the support of the Council of Small Business Australia and NSW Business Chamber.
Appointing property valuers when lending to small businesses and primary producers
This industry guideline explains bank property valuation practices and outlines the minimum standards customers can expect of banks when they appoint an external valuer to assess the market value of a commercial or agricultural property for loan security purposes.
Appointing investigating accountants and insolvency practitioners to small businesses and primary producers
This industry guideline outlines the minimum standards expected of banks when working with small businesses, commercial or agricultural businesses in cases of financial difficulty.