Why You Should Obtain Invoice, Cash Flow or Debtor Finance in Melbourne

In today’s economic climate, starting a successful business in Melbourne is arguably harder than ever, especially as globalisation continues to see more and more jobs move abroad, a growing population means an increasing number of competitors, and tough financial times make people wary of spending money. However, just because making a company a huge success is hard doesn’t mean it’s impossible, but you need to have enough capital to invest in your business to make it grow and stand out from the competition.

When it comes to obtaining cash, you have many options, with some being more beneficial than others. You might think the only way to secure money is to apply for a loan at the bank, but banks can take weeks or even months to process applications, and they may reject you outright if your business is new or offer a loan with astronomical interest rates. However, if you have already completed jobs for many clients and are struggling with finances because they have yet to settle their invoices, you might be able to obtain the cash you need via invoice finance in Melbourne.

At Nova Business Finance, we can provide funding based on your outstanding invoices. In basic terms, we’ll provide you with financing based on the value of the invoices for which you haven’t been paid, and it will then be our responsibility to obtain payments from your clients. We’ll base our terms on the professionalism of your business and the likelihood of customers defaulting, so as long as you have a solid customer base that always makes payments on time, you could receive a much better deal from us than you could from a bank. Plus, it’s important to remember that we don’t provide loans secured by your assets – we provide cash flow finance in Melbourne based on the value of your outstanding invoices.

Is Debtor Finance in Melbourne Right for You?

Debtor finance, otherwise known as cash flow or invoice finance, is ideal for small to medium sized companies who can’t approach the banks for a loan, but it’s also much more beneficial than business loans for the following reasons:

  • Receive the money you need quickly – What happens if a large client approaches you and offers the opportunity of a lifetime, but you don’t have the capital to fund the project? Customers are unlikely to pay the full cost of a job before you finish it, but we can provide debtor finance based on the money others already owe you.
  • No monthly repayments, no pressure – We provide cash flow finance based on the total amount clients owe by assessing your invoices, and then we make our profit by collecting the money from your customers instead of you.
  • Avoid a bureaucratic nightmare – Loan applications can be cumbersome and tiring, and the banks often don’t process them for weeks. We’ll process your invoice finance application in 24 hours in most cases, and we’re more than happy to provide assistance should you need it.

Don’t Let Your Business Go Under

Companies have had to close their doors due to not having enough capital to invest in their business at the right time, but thanks to debtor finance in Melbourne, you don’t have to be one of them. Contact us today to find out how we can help you.