On Tuesday 16th Dec 2014 a letter appeared in the Australian Financial Review titled “SMEs let down by banks, Murray review.” and written by David Jordan of Lindfield, NSW. Along with the letter was an excellent cartoon by Clement.
Jordan’s main argument is summed up in his first paragraph “There is no point talking about another rate cut when the banks have failed to pass on rate cuts to the small-business sector for a decade”.
He goes on to give an excellent, though sadly standard, anecdote about franchise lending.
If you are not an AFR subscriber the link may not get you access to the article (in that case the scanned letter, copyright Fairfax Media, is SMEs let down by banks).