The Commonwealth Bank yesterday announced a funding package designed to support small business growth. The Small Business Investment Package will address small businesses’ short and long term needs, says Ian Narev, head of the bank’s Business and Private Banking division.
“There’s a misconception out there that small businesses do not have access to the lending facilities they need to operate in the current environment. We want to make it clear that we are open for business for small business,” said Narev. “The Commonwealth Bank has lent, and will continue to lend, to credit-worthy small businesses. Our lending criteria remain responsible, not restrictive.”
The package will provide loans to businesses with less than $10 million in turnover and focuses on cash flow and investment in training and equipment.
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