Writing for The Global Treasurer, Paul Mitchell, Managing Director, Australia and New Zealand at specialist financier Falcon Group, explores the rise of non-bank lending in Australia in light of tightening regulations affecting banks globally.
Despite entering its 25th recession-free year, Australian banks are not exempt the issues affecting the international banking market, and as a result, key areas of the economy – like agriculture and infrastructure – are going unfunded.
As such, alternative finance providers are stepping in, offering corporates a more diversified approach to financing their needs. These lenders are increasingly in demand, with the Australian market alone standing at $610m according to recent figures – overtaking Japan to become the second largest alternative finance market in the region.
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