Growth is the primary goal of any small business, and without cash, it's extremely hard to achieve any amount of expansion.
Small businesses can find it especially hard to maintain a steady cash flow as their expenses will usually outweigh their income when they first start off. Additionally, further cash flow pressure is created by timing discrepancies between when income is coming in and when expenses need to be paid.
Debtor finance is fast becoming a viable solution to help small businesses tackle those early teething problems and start growing. What makes options like debtor finance such an appealing solution?
Aids your cash flow
There's no need to wait around for customers to pay their invoices, or even enlist the services of a debt collector.
Cash flow finance is an efficient, safe way to free up that vital cash locked up in unpaid invoices, allowing you to claim the cash you are entitled to and keep your business running.
An attractive alternative
One of the biggest hurdles small business face is the lack of resources to be able to secure more traditional forms of funding.
For example, applying for a loan from a bank usually requires you to go through layers of red tape and offer assets as security, which most small business simply may not have.
Dealing with a debtor finance company is a much more viable solution for small businesses to take.
Keeps you up to speed
Speed is of the essence when you're running a small business - there just isn't time to fill out stacks of paperwork or wait around for invoices to be paid.
Debtor finance is incredibly fast - from approvals to the actual transfer of funds to your account, it's a quick, streamlined process that will let you focus your time on other areas of your business.
If you'd like to learn how Earlypay's Invoice Finance & Equipment Finance can help you boost your working capital to fund growth or keep on top of day-to-day operations of your business, contact Earlypay's helpful team today on 1300 760 205, visit our sign-up form or contact [email protected].