Importance of credit history for business loan approvals
There are multiple factors that can cause a rejection in your loan application. However, the one that is most common is the credit history especially
Irrespective of whether you are a small business, or you are one of the corporate giants, managing cash flow is difficult for almost everybody. Amidst the hectic work schedules coordinating the invoicing cycles can be extremely overwhelming. But aren’t invoices important to meet the working capital needs? Well, yes they are. However, if you are falling short of capital because your pending invoices are sitting ideal on your desk, then financing those invoices can be a brilliant option.
Instead of waiting for days, weeks or months to be paid by a customer, now you can release up to 95 per cent of the value of your invoice within a day of its issue. Invoice finance allows business owners to avail advance payments by submitting their cleared invoices as a safety statement or collateral.
Note that all enterprises aren’t eligible to avail invoice finance. In order to be eligible, an enterprise must:
Invoice financing presents a unique range of benefits for businesses of all sizes. Unlike other sources of business finance like secured business loans, invoice financing allows companies to raise quick cash without losing collaterals or business opportunities. Companies can leverage the invoice financing option to get liquid cash readily as soon as the invoice is issued. With invoice financing, businesses can:
Having a steady cash flow is imperative for a business to grow and prosper. Combating financial crises is already tough and during tough financial times, invoice financing can enable business owners to focus on acquiring new customers instead of chasing the debtors. So, opt for invoice financing, get paid immediately for your invoiced cash and put back your business on the go while increasing turnover and profits.
Looking for a reliable invoice financing company or for secured business loan? Search with a trustworthy finance broker.
Saroj is the Head of Lending at Broc Finance. He comes with 13+ years of experience in small business lending and has a knack of structuring complex deals and get the best outcome for his customers.
There are multiple factors that can cause a rejection in your loan application. However, the one that is most common is the credit history especially
Irrespective of whether you are a small business, or you are one of the corporate giants, managing cash flow is difficult for almost everybody. Amidst
Entrepreneurs often rely on loans to grow and manage their ventures. Business loans infuse SMEs with funds, allowing them to undertake urgent expenses and critical
Contact us today and discover how our expertise can help your small business thrive.
CALL US
1300 253 041
EMAIL US
enquiries@brocfinance.com.au
Broc Financial Services Pvt Ltd.
ACN 648 088 304
Credit Representative number 540795 is Authorised under Australian Credit Licence Number 389328