SME growth quango finally funded 28 November 2019 4:36PM Ian Rogers Business lending, Finance regulation, The Australian Business Growth Fund, a joint venture between industry and the government, will soon be up and running. The treasurer, Josh Frydenberg, yesterday confirmed each of ANZ, CBA, NAB and Westpac will commit A$100 million to the fund, while Macquarie and HSBC will contribute $20 million apiece. The federal government has pledged $100 million. The Australian Business Growth Fund is intended to address a "funding gap for long-term capital to enable high growth potential SMEs".This fund will benefit "high growth" SMEs with annual turnovers of between $2 million and $50 million.The fund will invest between 10 per cent and 40 per cent in the selected businesses, taking equity stakes of up to $15 million.