Published: 19/08/2020
According to the Grapple 2019 SME research report, one in three small/medium business stakeholders found that larger businesses influenced them to accept longer payment terms than they felt was fair, effectively taking advantage of the imbalance of power.
Some large corporations frequently take more than 90 days to pay, despite agreeing to 30-day payment terms, essentially using the nation’s small to medium sized businesses as banks. Late payment of accounts receivables can spell disaster for them, tying up cashflow so they are unable to pay their bills, their suppliers and even their staff.
As Australia’s first online non-bank marketplace for facility invoice funding, Grapple offers a lifeline to SMEs as a way to avoid this nightmare scenario. The clever, flexible peer-to-peer lending model allows businesses to sell a single invoice or even a part of an invoice with no set up or ongoing fees or requirements for property security.
Investors benefit from smart algorithms which bid on their behalf to match their pre-selected risk appetite. This win-win new asset class gives investors direct ownership of individual or multiple invoices within a line of credit facility, all within a bank-free zone.
Now, more than ever, is the time to get on top of your cashflow. While many things in the business world remain uncertain and we all look to adjust to the new environment, quick payment of invoices can be one thing you are certain of with the help of Grapple..
Life is too short for sleepless nights full of worry and anxiety. When you want to keep your business thriving and need quick access to the funds in your unpaid invoices, contact Grapple and we’ll help you sleep like a baby.