Woolworths, Coles well-placed to boost business lending, David Murray says

 In Australia, Coles, NewZealand, Woolworths
Financial system inquiry head David Murray wants more competition in business lending and argues supermarkets could easily provide it.
He said the two big supermarkets Woolworths and Coles are already offering various financial services, but they could fund cash flow loans to business themselves because they usually have "positive working capital" ? meaning they get paid before they have to pay their suppliers.
"I don’t want to pick on the supermarkets, but if they have positive working capital, they collect before they pay. Why couldn’t they use that cash to fund business?," he told The Australian Financial Review.   Sydney Morning Herald – Read more…

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