Small Business Association of Australia (SBAA) has announced a new corporate partnership with leading online SME lender OnDeck Australia that will help SMEs grow, thrive and flourish.
Anne Nalder, Founder/CEO, Small Business Association of Australia (SBAA), said, “OnDeck offers a wide range of SME lending products that can be customised for the needs of small business owners seeking growth, and we are excited to welcome them as a corporate sponsor.
“We understand SMEs are the lifeblood of the Australian economy and play a vital role in Australia’s future growth and prosperity. Yet SMEs are grossly undervalued or recognised for their contribution to the economy and face an uphill battle for growth and sustainability.”
The timing of the OnDeck and SMAA partnership is also significant as there is growing interest amongst SMEs for funding from online lenders, with 1 in 5 likely to consider an alternative lender in the future, according to research commissioned by OnDeck.
“As Australia’s premier small business organisation, we are a one-stop-shop for small business owners. By partnering with OnDeck, our members will now have access to more information that will enable them to consider funding alternatives,” Ms Nalder said.
The SBAA, which holds several member events throughout the year, including its influential International Small Business Summit, has responded to COVID-19 with a series of free member webinars, online courses, and workshops.
“To ensure our members continue to thrive in these times of adversity, we have continued to offer quality online training, support and a lot more,” said Ms Nalder.
“Like OnDeck Australia, we recognise the small business owner is important, and we are here to help them grow, thrive and flourish.”
Mr Oliver Wade, Head of Marketing & Partnerships of OnDeck Australia, said the SBAA had come a very long way in a short time and today is acknowledged as a leading business organisation representing the interests of SMEs in Australia.
SBAA has a large database of members and supporters Australia wide and holds popular member events.
“We know that access to capital is the single biggest factor holding small business back in Australia. By partnering with SBAA and attending its member events we are confident we will be able to reach out to more SMEs and assist them to source the funds they need to take advantage of timely opportunities for business growth,” concluded Mr Wade.
OnDeck (NYSE: ONDK) is the proven leader in transparent and responsible online lending to small business. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online. Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners. OnDeck has provided over $13 billion in loans to customers in 700 different industries across the United States, Canada and Australia. In Australia, OnDeck is backed by leading accounting software provider MYOB and has a 5-star rating from Trust Pilot. For more information, visit www.ondeck.com.au
About the research
AltFi research was conducted online in April 2019 by Honeycomb Strategy across 430 SME owners Australia-wide. The survey included SMEs with less than 50 employees, annual turnover of $50,000-$5 million, and in operation for at least 12 months.