Australian banks loaned $53B to SMEs during the first year of COVID, averaging $1.3B a week.
61% of all new business loans during the first 300 days of the COVID-19 pandemic were to small or medium sized enterprises.
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Agribusiness
Lending to agribusiness
Bank lending to agribusiness has risen to a record $104.7b as at September 2022.
Scams
Scams: A snapshot
Mobile Apps averaged $18k per scam. 12% of reported scams resulted in financial losses for a total of $336 million lost.
Banking Data, SME
Lending to Australian SMEs
In April 2022 alone, over $13 billion in new loans were provided to micro, small and medium businesses.