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Hi there
I read your post today with great interest because all small or medium business needs equity more than debt.
The recent royal commission into financial misconduct saw financial institutions lending practices tightened in many facets to comply with current and preexisting responsible lending laws in Australia.
This possibly mirrored your recent experience. However there’s hope, crowd sourced equity funding is a new type of SME funding in Australia.
I will keep it very simple to aide further discussion – this funding source is where equity investors buy an investment (s) in your business, as opposed to a bank loan.
You will need to complete certain due diligence activities in accordance with ASIC requirements, and have your proposal promoted by a CSF intermediary.
The intermediary must have a special AFSL license.
Please let me know if I can he on this front?
I’m a long-standing Accountant and financial planner.
Thank you,
Steve
