If you are a relatively new business owner, you would be more than aware that the bank is not going to touch you and give you UNSECURED cash to help you get through the tough first year.
So where do you turn, without having to go to family and friends for assistance?
Fortunately, there is now lending, which is relatively new to the Australian market, which offers UNSECURED business lending, to those businesses which only have 5 or 6 months history behind them.
If you have a merchant facility, and/or are turning over more than $5000 per month in sales, than you may well qualify for a cash flow injection funded without any security taken over your personal or business goods.
The flexibility of this product, is due to it being based on your actual turnover, rather than a net profit shown in a tax return that you do not have. Most banks wont touch you without using your property as security, unless you have been in business for many years.
Importantly though, you must ensure that your accounts history does not show overdrawn payments, as this affects the lenders view on your ability to manage your cash flow effectively.
The other great feature, is that once again, this product does not force you to jump through hoops.
You wont need extensive contracts or quotes to prove what you are using the funds for. If you are simply requiring cash flow to pay upcoming bills, whilst you await for your customers to make their outstanding payments, or you need to pay staff wages before the result of their hard work turns into income for the business, then this product can be just the lifeline that you need.
For more information, call Bee Finance Savvy on 1300 140 554.
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