Business
Prospa lifts provisions after $5.5m virus hit – The Australian Financial Review
The unsecured lender to small business has written off $5.5 million and set aside a further $20 million as pandemic losses send its earnings into the red.
The total impaired loan number has not been pre-released and will be larger than the $5.5 million new write-down, which came after a review in the last quarter of the recoverability of all loans and reflects a “conservative view”, the company said.
With the hospitality sector and small businesses in metro businesses hit hard, some were “starting to look for capital again and the crisis had revealed many to be resilient, Prospa chief executive Greg Moshal said. The fintech “maintains its strong …
-
Noosa News16 hours agoCommissioner thanks police officer who threw a speed radar at a car
-
Noosa News21 hours agoBrisbane news live: Federal fund for council’s cyclone clean-up dries up
-
Noosa News14 hours agoNo matter what happens in his Origin debut, history beckons for rookie maroon Robert Toia
-
Noosa News23 hours agoDifficult to diagnose and potentially deadly — this lesser-known disease is becoming more common