Ethical Financing

Australia’s financing market needs a change.

Over 90% of Australian small businesses say that cash flow restrictions prevent them from generating more revenue, with over 20% of small businesses reporting that they have not been able to access necessary finance to grow, employ workers and serve their customers.  

Small businesses are important because they provide opportunities for entrepreneurs and create meaningful jobs with greater job satisfaction than positions with larger, traditional companies. They foster local economies, keeping money close to home and support Australian neighbourhoods and communities.

Small businesses contribute to local economies by bringing growth, employment and innovation to the community in which the business is established.

The traditional road to financing with the big banks is difficult for young businesses without a track record or security, and is typically long and time consuming. Major lenders are not looking after young and innovative digital businesses. Around 85% of small business loans applied for are for under $100,000. However, small business lending only makes up around 4% of total bank commitments in Australia.

The market has been disrupted by the emergence of several FinTechs providing small business funding. While greatly improving access to capital, many of these lenders charge exorbitant interest rates – often reaching up to 47% in real terms – and come weighed down with hidden fees. These loans are unaffordable, unsustainable and ultimately unethical for small businesses who play such an important role in our community.

At Bromleigh, ethical financing underwrites everything we do. We do not believe in additional fees of any kind, we do not adjust interest rates based on what we think we can get out of you, and we completely transparent in every aspect of our business.

We do not work with brokers, we do not spend money on advertising and we do not lend to risky businesses that can’t afford to service their loan and end up going broke – all this allows us to have some of the cheapest rates in the Australian market.

As a long term financier dedicated to supporting innovative Australia businesses making a meaning contribution, we particularly want to support:

• eCommerce and digital: helping local Australian online and digital businesses compete against foreign competition

• Education and skills: empowering local people and increasing access to services particularly through digital channels

• Sustainable living: technology businesses dedicated to solving community issues like clean-tech and waste reduction

• Innovative agriculture and water: businesses that seek to solve food and water demands

• Health and wellbeing: aged care and health providers and innovative and medicine

Female Entrepreneurs

In January 2019, 34.9% of business operators in Australia were women. While this is a 46% increase over the past two decades, it is only a 3.9% increase from the 31% of female business operators in 2006. These statistics show a really positive move in the right direction, however at Bromleigh we want to do everything we can to propel women in business.

Currently, only 12.1% of the nation’s 5.9 million employed women are their own boss. Further, only only 2% of venture capital funding globally went to female founders.  

At Bromleigh, we want to encourage female business owners to take to grow and expand their businesses. If you are a female founder or business manager and want help understanding debt financing and associated risks we would love to chat with you. At Bromleigh, we offer a free one-on-one consultation with one of our female financiers to run through your business operations and needs and discuss what a Bromleigh loan would look like for you and your business. We can answer any questions and concerns you may have around debt finance, help out in your decision-making process, and hopefully give you the confidence to make the decision that is right for you! 

Young Entrepreneurs

We have a passion for young Aussie entrepreneurs. In Australia, around only 2.3% of owner managers are aged between 18 and 24 years. Unfortunately, this figure has declined from 2.5% in 2006. At Bromleigh, we want to encourage young people to take a risk and give running their own business a go. We offer young entrepreneurs and business owners between the ages of 18 and 24 a free one-on-one consultation to discuss your business, debt financing and what you need to be aware of and the risks if you are thinking of taking on debt.

Hopefully by the end of this consultation you will be better positioned to make an informed decision that will set you in the right direction long term!