Kept

ANZ Banking Group: promised to pour $1 billion into new businesses over the next 12 months, in a bid to position itself as Australia's most start-up-friendly bank. It will lend at least at least $1000000000

The funding, which is part of ANZ's Banking on Australia program, follows new research highlighting the challenges faced by cash-strapped small businesses. According to Nick Reade, ANZ general manager of small business banking, the funding is designed to ease the pain of accessing finance. We know the first few years of running a small business can be challenging,? Reade says. A lot of new small business owners think that it's only big businesses that get loans from the banks, but that's not the case. In the last year, we approved more than seven out of every 10 lending applications from new small businesses. To apply for a small business loan, customers need a business plan, cashflow forecast, recent personal tax returns and no negative credit rating. All applications for credit will be subject to ANZ's normal credit approval criteria. Reade insists there is no additional criteria in order to receive a loan.

Progress Reports

07/05/2014 No comment submitted.
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03/03/2014 Well done ANZ! Looking forward to seeing you crack $2 billion next year
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29/10/2013 ANZ have claimed to have lent $750 million as of 29 October 2013 Woluwe-Saint-Lambert, Belgium
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15/10/2013 Nick Reade has promised a full report on how much has been loaned at the ANZ results presentation in 'a few weeks'

10/10/2013 Here's the link for the article on the obligations when making a pledge
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10/10/2013 We have requested another update from ANZ. While you wait you may wish to check out this article about the obligations on businesses when making pledges http://mumbrella.com.au/a-worthy-pledge-or-just-another-marketing-campaign-171860

16/07/2013 ANZ have declined to release any results. Here is their Twitter response: 'ANZ Australia ‏@ANZ_AU 5 Jul @promiselocker we're pleased to report there's been strong interest in our $1b lending pledge. Official announcement to come in the future.'

16/07/2013 ANZ have declined to release any results. Here is their Twitter response: 'ANZ Australia ‏@ANZ_AU 5 Jul @promiselocker we're pleased to report there's been strong interest in our $1b lending pledge. Official announcement to come in the future.'

01/07/2013 Still waiting for the ANZ to advise how much they have loaned to small business. They are still promoting the pledge very heavily.