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Small business information

Today's small businesses have many unique and diverse needs. Whether you're looking for tips on developing a business plan or tools for managing and growing your company, Australia’s banks can help. Banks provide service and support to small- and medium-sized businesses in many ways, and financing is only one of them. This section has some information which would assist small business and farm businesses.

To find out how much banks lend to the small business sector, read the ABA report or a quick snapshot in our infographic.

Helping small business access finance

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.

Watch a short video or visit the website at financingyoursmallbusiness.com.au

Dealing with debt – how banks can help if the small business is experiencing financial difficulties

Recent changes in the financial environment and the domestic economy have affected many bank customers including small business customers. If you do encounter problems, it is best to get in touch with your bank as quickly as possible and together work out a strategy for keeping on top of your loan.

Refinance Your Business Debt

For many small businesses the initial financing arrangements put in place at start up are still in place many years later. For example, a company starts off
with a simple overdraft facility and may arrange for several modest increases in the facility overtime, without consideration of the suitability of the debt arrangements to its current and future needs or the cost/benefit of the facility.

Small business owners and their advisers should review existing debt finance arrangements on a regular basis. This ensures that the finance facility and structure fits the current needs of the business. This fact sheet will discuss the areas that small to medium-sized businesses need to consider when undertaking a review of existing debt finance. It has been prepared by the Australian Bankers’ Association and CPA Australia.

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