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Ross Greenwood: Worse to come as Royal Commission investigates lending to small business

Article image for Ross Greenwood: Worse to come as Royal Commission investigates lending to small business

The Royal Commission has exposed some extraordinary conduct so far.

According to Ross Greenwood, there’s much more to come when the commission starts probing into how banks are lending to small businesses.

CEO of Small Business Council of Australia Peter Strong tells Ross Greenwood small scales businesses are “gun shy” when seeking loans from banks.

“They’re very gun shy for several reasons. The main one is they can’t get the money.

“It’s either the attitude of the banks or the attitude of APRA, the regulator of the banks, that makes it really hard for me and you to go out and get money.

“I’ve got one example where it’s easier to go and get money from Canada.”

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