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$120 billion need for SME lending is being neglected, Judo Bank warns


Judo Bank co-founder and co-CEO Joseph Healy.
Banks are neglecting the lending needs of small businesses and startups, with an estimated $120 billion in unmet need outstanding, according to Judo Bank chief executive Joseph Healy.
A submission from Healy, on behalf of the SME-focused neobank, to the Senate Committee on Australia as a Technology and Financial Centre, suggested a failure of the big banks to meet the requirements of the small business community.
It called out a “significant and unhealthy bias” towards mortgage lending, while SMEs and startups struggle to secure loan funding.
“The genesis of Judo was a belief that there was a market failure in the provision of credit to the SME economy by the banking system,” Healy said in the submission. ....

Joseph Healy , Bruce Billson , Financial Centre , Judo Bank , Senate Committee On Australia , Australian Financial Complaints Authority , Senate Committee , Australian Small Business , Family Enterprise Ombudsman Bruce Billson , Australian Financial Complaints , ஜோசப் ஹீலி , காயங்கள் பில்சன் , நிதி மையம் , ஜூடோ வங்கி , ஆஸ்திரேலிய நிதி புகார்கள் அதிகாரம் , செனட் குழு , ஆஸ்திரேலிய சிறிய வணிக , குடும்பம் நிறுவன ஆஂபட்‌ஸ்மந் காயங்கள் பில்சன் , ஆஸ்திரேலிய நிதி புகார்கள் ,