There’s no question that the bank is the first port of call for small business when cash gets a bit tight. But the bank can’t always help, especially when time is short and existing facilities tapped.
“The question is – where do you go when the bank is unable to help either due to timeframes or restrictions on current facilities,” says Colin Chisholm, Managing Director, Fifo Capital.
“We see this kind of thing pop up for quality small businesses regularly. It might be that there’s an opportunity to grab stock at a cheap price and make a good profit; it could be that normally prompt debtors have delayed payment; or perhaps a particularly good couple of sales months means a bigger than usual GST bill is due before revenues flow through.”
Fifo Capital recently launched a highly flexible business lending solution to meet these needs.
Fifo Loan Quick Facts:
– Business loan for one to 12 months
– For loans of $5,000 to $100,000
– Same day or 48 hour maximum turnaround on completed application
– Secured by invoices, stock or other – tailored to the business need
– Repayments weekly, monthly or end-of-term
“If there is a good business reason for the loan – and a good business to support it – nine out of 10 times we’ll be able to structure a smart loan solution. And importantly for the small business owner, we’ll do it quickly – if not that day, the loan will be in place the next day.”
“For those times when the bank can’t help and time is of the essence, Fifo Capital can make the cash available. And that can be the difference between making the most of opportunity for profit; keeping the financial wheels turning without penalty or avoiding unnecessary cost.”
If you have plans for your business but short term cash flow is getting in the way, we can help and welcome you to get in touch.