JUNE 2010

Inside Story On Business Lending

David Marshall, Bank of Queensland

Many small business people are complaining that they can't get bank finance they need to grow their businesses in the wake of the Global Financial Crisis. David Marshall of the bank of Queensland, says its true there's now greater scrutiny of the financial health of businesses seeking loans, so that the banks can be sure they're lending for the right reasons and with good expectations of success. He says the pace of recovery varies from state to state and between industry sectors, but competition between the banks should ensure that small business customers get the help they need. He says open communication with your bank about the state of your business and its prospects, and clear paperwork, will stand you in good stead.