Sometimes, you just need fast access to a short, sharp loan which helps you get rid of a problem quickly.
Perhaps a tax debt is blocking you from obtaining other types of finance, such as that needed to buy new assets.
Short-term loans are typically $50–$500K and have a duration of between 6–18 months.
Cashflow consistently remains the biggest challenge for growing small-to-medium sized businesses. This is often driven by a timing mismatch between cash inflows and outflows, which puts a strain on a business’s working capital and ultimately its ability to take advantage of growth opportunities.
Short-term business cashflow lending enables a business to access the capital it needs to realise growth opportunities, such as:
- Winning new contracts
- Purchasing stock or bringing on new product lines
- Paying ATO Liabilities
- Investing in marketing activities
- Renovating or moving into a new premise
- Paying off creditors or existing debts.
Non-bank business short term cashflow lenders have been built specifically to support small-to-medium sized businesses with their working capital needs. These lenders use technology and a variety of data sources to understand a business’s performance and cashflow, rather than relying on a director’s personal assets as security. This has several benefits, including:
- Fast applications & approvals: Apply online in as little as 10 minutes and receive funds in as little as one business day
- Unsecured loans: There is no need for security over your personal assets when you borrow from a business cashflow lender
- Better rates for better businesses: business cashflow lenders typically price according to risk, so stronger businesses receive better interest rates
- Quick & easy re-borrowing: Once a business establishes a track record, you can apply for new loans in just a few clicks
- Good, old-fashioned service: Business cashflow lenders are typically much smaller than banks and have relationship managers who are available to provide quality customer support.