Small Business Lending complaints are made by an eligible small business about credit provided to them for business or investment purposes (other than investment in a residential property by an individual), such as business loans, overdrafts, lines of credit, leases and other loans. AFCA's Appropriate Lending to Small Business Approach explains how we consider these complaints, including:
- the types of small business complaints we can consider under AFCA’s Rules
- how we assess if a financial firm’s credit assessment was appropriate
- how we consider industry codes, regulatory guidance and good industry practice in our decision making
- how we determine a fair outcome where a firm has provided an inappropriate loan, and
- how we calculate loss and determine how much compensation should be paid.
Consultation period
The consultation is open from Friday 18 August to Friday 29 September 2023.
All feedback and submissions on AFCA’s Appropriate Lending to Small Business Approach should be sent to AFCA by Friday 29 September 2023. AFCA will consider and respond to consultation submissions and feedback after the consultation period has closed.
Read AFCA’s Appropriate Lending to Small Business Approach
Read AFCA’s new Appropriate Lending to Small Business Approach and provide your feedback through one of the channels below.
Read the Appropriate Lending Consultation Paper
The Appropriate Lending to Small Business consultation paper explains the purpose of the approach and support stakeholders in their submissions.
Provide feedback or make a submission on AFCA's Appropriate Lending to Small Business Approach
AFCA invites all stakeholders to provide feedback or make a submission through one of the following channels:
email general questions and comments to us at consultation@afca.org.au
send us a written submission by emailing consultation@afca.org.au
post/mail us a written submission to:
Lead Ombudsman – Small Business and Transactions
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Please note: all feedback and submissions on AFCA's Appropriate Lending to Small Business Approach should be sent to AFCA by Friday 29 September 2023. AFCA will consider and respond to consultation submissions and feedback after the consultation period has closed.
Consultation key dates
| AFCA's Appropriate Lending to Small Business Approach | |
| Date | Milestone |
| Friday 18 August 2023 | Consultation on AFCA’s Appropriate Lending to Small Business Approach document opens |
| Friday 29 September 2023 | Consultation on AFCA’s Appropriate Lending to Small Business Approach document closes |
| September – November 2023 | AFCA to consider and respond to consultation submissions and feedback |
| November 2023 | AFCA to publish submissions received |
| Late 2023 – early 2024 |
AFCA publish updated final Approach (subject to external approval) |
