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Changes to the government's SME Recovery Loan scheme kick in today

More SMEs are now eligible to apply for business loans under the federal government’s SME Recovery Loan scheme. Here's what SMEs need to know. ....

New South Wales , Joseph Healy , Neil Slonim , Josh Frydenberg , Judo Bank , Sydney Morning Herald ,

American Express launches unsecured business loans for Aussie SMEs


February 9, 2021
American Express will leverage its global brand to offer small businesses unsecured loans, in a first for the company outside of the United States.
The launch of American Express’ business loans will offer unsecured capital of between $5,000 and $250,000 to SMEs in Australia on annual interest rates starting at 10.95%.
Martin Seward, American Express Australia’s vice-president of global commercial services, says the need for the new product is based on AMEX’s own research, which found Australian SMEs are looking for $130 billion in capital.
“We certainly believe small- to medium-sized enterprises are facing challenges accessing cashflow and working capital at the best of times, but during COVID-19, that has become even tougher,” Seward tells ....

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