You’re going to need a business line of credit in the ups and the downs, here’s why.
The reality is even if you’re growing rapidly, every business goes through seasonal cash flow cycles and unexpected expenses or the occasional slow paying customers.
We get asked every day how Waddle's Invoice Finance compares to Invoice Factoring
I was speaking with one our new partners in W.A last week (true story) and it took a little time for him to have that "light bulb" moment when he realised that Waddle doesn't work like invoice factoring at all.
It's common for growing Payroll & Contractor Management firms to get held back by cash flow gaps in client invoice payments.
Growing Payroll and Recruitment companies use payroll funding on a regular basis, and with more SMEs turning to outsourced payroll services, cash flow is critical.
You’re a lender and you didn’t even know it; offering trade credit means you need to have a credit policy from the get-go.
We’re pretty certain you’re either contemplating offering credit terms or have been offering them already, turning a blind eye to knowing exactly who you’re dealing with.
A receivables-based revolving line of credit is a very attractive form of invoice financing for small businesses.
It’s a short-term working capital option that is secured by the unpaid accounts receivable of businesses that sell or perform services on credit terms. It’s structured as a straight credit line instead of an invoice factoring arrangement that’s traditionally disclosed to customers.
Bank overdrafts and invoice finance are two funding options that are similar in some ways however fundamentally different in others.
When you’re a looking for an overdraft there are a few key things you need to think about first:
Do you completely understand debt, how it differs and how to match it to your business to help avoid the risks?
You’ve no doubt heard people say “avoid debt at all costs”, but what does that mean to business owners trying to grow or stay afloat? Does avoiding it mean not closing a cash flow gap from slow paying customers to fund growth or not buying a piece of equipment to earn new revenue from a new contract?
Noel Tiufino, Director at MyAccounts" Game Changer - QuickBooks App Store
Topics: Waddle Plugs