Business Loan Applications Surge While Company Failures Hit Five-Year High

Business loan applications surge while company failures hit five-year high

Business loan applications up 6% while company exits rose 12%. Equifax data reveals mounting pressure across Australian enterprises. What’s happening: Credit shopping among high-risk Australian businesses has surged from 39% to 49% in just one month, according to Equifax data. Business loan applications rose 6% while insolvencies hit a five-year high, with construction and hospitality particularly affected by mounting economic pressures. Why thi…

Financial figures indicate a hospitality sector in survival mode

Australia’s hospitality sector is under mounting financial pressure with insolvencies rising and businesses becoming increasingly reliant on credit to manage cash flow, according to Equifax’s latest Quarterly Commercial Insights. Credit shopping among higher-risk borrowers is on the rise, with more applicants approaching multiple lenders in search of financing to support their business operations. The Equifax Quarterly Commercial Insights data t…