Jon Sutton, the former Bank of Queensland boss now running ScotPac Business Finance, says he hears from customers all the time frustrated about banks taking months to decide on a small business loan application and insisting on taking all the property the business owner has as security for the loan.
Jon Sutton, CEO of ScotPac, says many SMEs in need of finance are still being overlooked by major banks.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
