Business Finance
There are 3 main types of Business Finance solutions and its very important to get the right one for your needs as each one is very different:
- Business Loan
- Line of Credit (Overdraft)
- Debtor Finance
Business Loan
A Business Loan will provide your business with fast access to funds without the need to provide property or equipment as security.
Applications can be completed in under 10 minutes.
Once your bank data has been reviewed you will have a decision in 2 hours with funding possible the same day.
Why would you get a Business Loan?
Day to day working capital needs
To buy bulk stock at a discount rate
Marketing costs for a time-sensitive promotion
Hire additional staff to meet business demands
Take advantage of any short-term business opportunity
Pay off an ATO balance
Features & Benefits
No financials required for loans <$150,000
No property security required for loans <$150,000
Decision usually <2 business hours of application completion
Approved funds typically in your bank account <24 hours
Line of Credit (Overdraft)
A Line of Credit (Overdraft) is a facility designed to provide ongoing access to funds.
It differs to a traditional loan in that it doesn’t have a fixed term or set repayment amount, you only pay interest on what you are using.
Applications can be completed in under 10 minutes with same day decisions once your bank data have been reviewed.
Funds are usually available the following day.
Why would you get a Line of Credit?
You would get a Line of Credit if you like the option to use, repay and redraw those funds over and over again.
Features & Benefits
Flexible - Get funds as needed without having to “apply” each time.
Accessible - Readily available when you need it.
Interest - Is only payable on the amount you owe for the period that you owe it, not the total limit.
Debtor Finance
Debtor Finance turns what you are owed into money in the bank.
You can have an ongoing credit facility that you access day-to-day or a casual credit facility, which enables you to fund selective invoices to suit your cash flow.
Applications for Debtor Funding require more information and longer assessment than other loans.
How does Debtor Funding work?
You invoice your client as normal then send your invoice(s) to our Debtor Funder.
Within 24 hours, 80% of your invoice is paid to you and the remaining 20% is paid once the invoice has been paid in full.
Interest and charges are deducted from 20% or payable at month end, depending on your facility.
Features & Benefits
Instant access to funds - no waiting to be paid by your client.
Improved cash flow - access what you need, when you need it.
Flexible - the facility grows with your business.
Protects personal assets - your debtor ledger is the security.
