In this week's Financial Service Online's Finance News Wrap, Paige Estritori reviews the impact of the Reserve Bank interest rate cut on Australia's SMEs. Following this rate cut, businesses experienced increased access to budget-friendly financing, with business lending volumes and sector confidence rising. Prime Capital, a non-bank lender, has launched 'Business Jumbo Loans' to fill a gap in business financing. Digital lending platform 'Asset Finance Exchange' (AFX) has reached an $80 million milestone, demonstrating substantial growth in the asset finance market. National Australia Bank reported a fiscal cash profit of A$7.09 billion, even with Australias ongoing housing crisis. The rising costs associated with the housing shortage may impose additional financial pressure on Australians.

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