OnDeck Australia welcomes Ombudsman’s national push to supercharge small businesses
The 14 step plan will prove a boost for small business recovery and growth.
- OnDeck Australia backs ASBFEO’s “14 Steps to Energise Enterprise” plan, calling it a practical and timely roadmap to support Australia’s 2.5 million small businesses through post-pandemic recovery and tightening credit conditions.
- CEO Cameron Poolman says improving access to fit-for-purpose finance is critical, especially as a quarter of small businesses report being rejected by major banks—rising to 38% for those under five years in business.
- OnDeck has also praised the plan’s focus on cutting red tape, improving digital skills, and supporting mental health.
Sydney, 23rd June 2025: OnDeck Australia, a leading online lender specialising in unsecured business loans for small businesses, has welcomed the “14 Steps to Energise Enterprise” plan released by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Bruce Billson[i].
The plan offers a transparent roadmap for providing support, strengthening and empowering small businesses as they navigate post-pandemic recovery, persistent inflationary pressures, and a tightening credit environment.
Mr Cameron Poolman, CEO of OnDeck Australia, said the 14-point plan aligns seamlessly with OnDeck’s mission to make small business funding fast, simple, and accessible to the country’s 2.5 million small businesses.
“Bruce Billson has once again demonstrated that he understands what small businesses need—not just to survive, but to thrive,” Mr Poolman said.
“From easing regulatory burdens to improving access to capital, these reforms will have a meaningful, real-world impact.”
The steps advocating better access to fit-for-purpose finance and a more inclusive credit ecosystem are particularly interesting to OnDeck and its small business clients.
“Over the past three years with rates near historic highs, many small businesses found it more difficult to secure traditional loans from banks, despite strong fundamentals and growth potential,” Mr Poolman said.
OnDeck’s research found that 40% of the SMEs surveyed have, at some stage, applied for finance from various sources. Among these, one in four (24%) have had their applications rejected by a bank, which rises to 38% of SMEs that have been in operation for less than five years.
“Too often, small businesses are overlooked by traditional lenders because they don’t fit into narrow credit models,” Mr Poolman added.
“At OnDeck, we use innovative data and technology to assess efficiently risk using our proprietary credit model tailored for business loans, allowing us to say ‘yes’ when others say ‘no.’”
Mr Poolman continued, “We fully support the Ombudsman’s call for financial products and services that understand the small business journey.”
Mr Poolman also welcomed the plan’s focus on reducing compliance costs, boosting digital literacy, and supporting the mental health of small business owners—challenges that have become increasingly pressing in recent years also gained Mr Poolman’s praise.
“Running a small business is incredibly rewarding, but it’s not without challenges,” Mr Poolman said.
“Whether it’s navigating tax compliance, managing cash flow, or recovering from natural disasters, government support must match the ambition and resilience of Australia’s small business community.”
The 14-step blueprint encourages government and industry to work hand-in-hand with small businesses, ensuring they are not just consulted but genuinely included in policy design and economic planning.
As a fintech leader, OnDeck Australia is committed to playing its part by continuing to invest in responsible lending, technology-driven solutions, and education for small business owners across the country.
“We want to be more than a lender—we want to be a growth partner,” Mr Poolman said.
“This plan from Bruce Billson sends a strong message that small business is finally being recognised as the engine room of the economy – and they need the right tools, funding, and policies to thrive.”
About OnDeck
OnDeck is a small business lending specialist dedicated to simplifying business finance, since 2015. With its ‘Excellent’ TrustPilot rating OnDeck has streamlined the lending process for small business, with one of the fastest approval times in market. Offering business loans from $10,000 to $250,00 with terms of 6-24 month, all its loans are unsecured, with a personal guarantee*. Learn more at www.ondeck.com.au
* Important information from OnDeck: Loan eligibility, approval criteria, fees, charges, and T&Cs apply. All our loans are unsecured, although a personal guarantee is required. Loan amounts, terms and approval times vary. On Deck Capital Australia Pty Ltd ABN 28 603 753 215. OnDeck® is a Registered Trademark. All rights reserved.
Media Contacts:
Anthony O’Brien
Corpwrite Australia
+61 (0) 411 578 818
[i] https://www.asbfeo.gov.au/policy-advocacy/policy-insights/14-steps-boost-australias-small-and-family-businesses
