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Small and medium-sized businesses may soon be able to borrow money on cheaper terms under a $2 billion federal-government fund.

By
Evan Young, Mujeeb Muneeb
Published on
Monday, November 19, 2018 - 18:54
File size
4.81 MB
Duration
2 min 38 sec

Small-business owners with smaller financial assets, such as young people and newly arrived migrants, could benefit from the fund.

It comes as the Coalition Government also considers setting up a separate fund to help small businesses grow.

Treasurer Josh Frydenberg says small and medium-sized businesses will soon find it easier to borrow money, thanks to a new taxpayer-backed fund.

Two billion dollars will be available to small banks and non-bank lenders in the coming years to increase competition in a market currently dominated by the big banks.

Mr Frydenberg says the so-called Australian Business Securitisation Fund, which he expects to be operational by the end of 2019, will help fix an imbalance in the loans market.

Please listen to the full report in Pashto.