Australian FinTech firm Tyro says the gap in small business lending among traditional banks is “staggering” at A$7 billion (about $5.2 billion). On Wednesday (Sept. 14), the company announced its Smart Growth Grant program to help tackle that gap in SME financing.
That program will see Tyro asking the nation’s SMEs to propose their own innovative solutions to encourage small business growth and will award $25,000 in grants to up to 10 small businesses with the most progressive concepts, the company revealed.