A study conducted by leading fintech lender Prospa has confirmed that demand of SMEs for commercial financing is rising across Australia. Almost 37 per cent of small businesses are in need of funds in the next 6-12 months to get their business back on track. The rising demand for credit is spread across several sectors such as asset finance for tools and equipment, funding for digital transformation and restocking inventory after lockdown reopening as well as for rehiring to seize emerging opportunities. Meanwhile, the study indicates that mid-aged SMEs are the ones that need the most funding and their financing needs range between $46,000 and $58,000.
