Been Turned Down by a Bank for Cash Flow Financing in Newcastle? Get Help with Invoice and Debtor Issues by Coming to Nova Business Finance
Your business needs a cash flow advance to pay bills, employees, or contractors, so you go to a traditional bank looking for help. You have years of strong finances to prove that you will be able to cover the loan, and are only asking for a small amount of money to cover you until a few clients pay their invoices. In fact, you have thousands of dollars sitting in accounts receivable; you just aren’t sure when your customers will pay those invoices. You figure your bank will be willing to give your Newcastle business the cash flow financing it needs.
Unfortunately, banks often aren’t sympathetic to cash flow issues, especially for small businesses. Banks look at things like credit and assets to decide whether a company (or an individual) can get a loan. If you don’t have huge earnings or a recognisable brand name on your side, you might be out of luck.
Get Help the Bank Won’t Provide: Come to Nova Business Finance Today
At Nova Business Finance, one of our slogans is ‘If your bank can’t do it, we probably can’. This slogan refers to the primary service we provide, which is invoice or debtor financing. Invoice finance in Newcastle can help you if you have cash flow issues due to unpaid invoices.
Businesses that sell goods or services on credit—builders, caterers, plumbers, electricians, etc.—often can’t have to wait a few weeks to get paid for the work they do. Sometimes, the wait time between job and payment can stretch on for months. For larger companies, the wait time issue isn’t such a big deal. They have so many different invoices to bill that they can handle a few weeks of exposure without having to worry about cash flow.
Nova Finance’s debtor finance services in Newcastle, though, often deal with small or mid-sized businesses. These companies have quality goods and services, as well as a healthy number of clients. However, they are small enough that they work more on a job-to-job basis. They do one job, get paid, and use that money to handle bills, expenses, invoice payments to subcontractors and employee salaries. In other words, they use invoice payments from one job to be able to get to the next job—and so on and so forth.
Businesses that operate in this fashion can make a perfectly respectable profit, but they aren’t necessarily a ‘safe bet’ for banks. As such, if your business goes to a bank seeking cash flow financing in Newcastle, you might not get it. At Nova Business Finance, though, we can offer invoice finance to most businesses in Newcastle that sell goods and services on credit. We can take your invoices, turn them into cash now and then collect the payments from your clients. You get access to the money you need now, and you don’t have to go to the bank to get it.
Apply for Debtor Finance in Newcastle
Don’t give up just because the bank turned you down for a loan. If you have outstanding invoices and cash flow issues, get in touch with Nova Business Finance today. We’d be happy to discuss our debtor finance options in Newcastle. Reach us today by calling 1300 138 186.