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Enterprises turn to startups for innovation

Adam Bender | Nov. 1, 2013
ANZ says startup initiative gives bank early access to new ideas.

Reade says that ANZ bank has a philosophy of being open to lending money to startups that show solid business plans and positive cash flow forecasts, even though startups tend to have "unproven financials." The bank approves seven out of 10 loans to startups, he says.

However, it's not a stance that is shared by all other banks, he said.

"Some of my peers at other banks talk to me and say, 'What are you doing, lending money to startups?'"

 

 

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