Some have assets that can be pledged as collateral, but many do not. Some have a long history of solid, profitable performance, while others have short histories or a mixed track record with regard to profitability. Not surprisingly, there is also considerable variation in the credit needs of small businesses.
In Australia, we are in the process of implementing an open banking regime that will put consumers in control of their banking data. It is expected that consumers will be able to use these data to access better products and services.