Via the AFR:
This has prompted an urgent warning from the small business ombudsman, Kate Carnell, for the banking royal commission to recognise that loans secured by residential property must be assessed differently from consumer mortgages, to ensure capital continues to flow into SMEs to allow them to drive economic growth.
…”Small business credit growth has slowed dramatically in recent months, with anecdotal evidence now suggesting the current trend is towards flat growth across our economy,” said the chief executive of Westpac’s business bank, David Lindberg.
