How Invoice, Debtor, or Cash Flow Financing in Melbourne Compares to Bank Loans

As a small or medium-sized business owner in Melbourne, you’re already aware of how crucial it is to invest in your company to achieve growth. As the saying goes, you have to spend money to make money, but cash isn’t always accessible when you need it the most. You might have started your business knowing it was what people need without much money in the bank, in which case using personal funds for investment might be impossible. Maxing out credit cards is almost never a good idea because of the astronomical interest rates and monthly repayments. At this point, you might think the only option is to apply for a business loan, but invoice financing in Melbourne is often a better idea.

Invoice financing, often known as debtor or cash flow financing, refers to securing funding by selling your outstanding invoices. This means that instead of borrowing money based on future projections and the value of your assets, you obtain financing that’s calculated against the total value of invoices for which you haven’t yet been paid. Of course, there are still risk assessments, and an application process involved so that the debtor financing Melbourne business can ensure they’ll receive payment from your customers, but as long as you choose the right company, you could have the money in the space of a day.

At Nova Business Finance, we believe we are the best choice for cash flow financing in Melbourne because we’ve worked with countless companies from a broad range of industries. Plus, we’re happy to offer advice whenever necessary and aim to process your application as quickly as possible, usually within 24 hours. We understand that you just can’t wait for months to receive the money you need, which is why the banks are often not an ideal option. Keep reading below to find out when debtor cash flow financing is right for you.

Could You Benefit from Invoice Financing in Melbourne?

Running a business successfully in a city like Melbourne is no simple task, but it’s almost impossible if you don’t have any cash to invest. Instead of waiting around for clients to settle their invoices, you could obtain money for your unsettled payments by contacting us.

  • Quick turnaround – Unlike banks which can take weeks or months to process loan applications, we can provide financing in under 24 hours in most cases.
  • Don’t give in to high interest rates – If your business is small and relatively new, you’ll likely have to pay astronomical interest rates on loans. Why borrow money at all when you can obtain cash for your outstanding invoices?
  • We’ll take a task off your hands – If you borrow money instead of selling your invoices, you’ll have to chase up clients to ensure they pay. However, with our form of financing, we’ll be responsible for obtaining payment from your customers.

We’re Only a Phone Call Away

Here at Nova Business Finance, our goal is to give you the cash you need as soon as required so that you don’t have to close your doors due to unpaid invoices. Contact us today to find out more about our application process or to ask any questions you may have.