Why securing business financing now will ensure you start the new year with a bang...

Published: 12/02/2022

Business financing today is easier then ever. Gone are the days of endless form filing, months of back and forth with the bank and hours spent chasing down the funding you desperately need.

We know Aussie businesses are still struggling with cash flow – supply chains remain strained albeit on their way back to normal, cashflow continues to be an issue as people around the country come to terms with higher interest rates, increasing wage growth and falling property prices. If that wasn’t enough it’s harder than ever for SMEs across the country to access business finance via their bank - money they need for bulk stock purchases, to plug cash flow gaps or to use as working capital to fuel growth.

The good news is LendTechs like Grapple have addressed most of these ongoing issues for Aussie businesses. In fact they specialise in it. Making the complex simple, making business finance easy. Non-Bank lenders have digitized and simplified the process so SMEs across the country can get the working capital they need within hours. In short, the ‘path to yes’ has never been quicker.

I thought it timely and beneficial to share a few things I’ve learnt from my time in business financing. More specifically how I’ve seen Grapple’s clients, Aussie businesses, use our finance solutions to breeze through the Christmas period and begin the new year with a bang!

Make sure your businesses financials are up to date…

Whether you use an accounting package or not make sure your business records are up to date. All financing products rely on this information to provide the business funding you want and need. The more detail the better and the faster the path to yes.

Find the right solution for your business...

Business financing is becoming increasingly diverse and if you turn away from the Banks you’re likely familiar with, to more nimble LendTech providers there’s a myriad of solutions they offer to suit businesses of all sizes and varying growth trajectories. If I use Grapple as an example for just a second, we can provide a line of credit against an entire business ledger or simply pay a single supplier invoice on your behalf whilst you pay us in four monthly instalments. Solutions like these, and there’s many more, increase your working capital, improve your cash flow and ultimately help your business grow.

Don’t wait till the last minute...

If you need finance for your business, secure the funding now, not when you need to spend the money. Yes, the onboarding process is easy, completely digital and seamless but in some instances the onboarding process can offer up a few twists and turns. Look at it this way…if you know you need the money why wait?!?!

Start the new year with a BANG!

We all know that the finance industry pretty much shuts down from Christmas to Australia Day but the rest of the business world doesn’t. Especially those in retail. And let’s face it, a good Xmas typically means a good new year. If you’re ahead in January that makes the months that follow a lot easier. If you’re behind, you’re already chasing your tail. Don’t let that be your business. Especially if it’s access to working capital that’s slowing you down.

Whilst the economic conditions are very real for everyone, there’s tools that can help. Ready and flexible finance is just one of them, albeit an important one. Make sure it’s your starting point, not your end point.

As we all wrestle with the uncertain economic times ahead know that financiers like Grapple can be an important business partners for growth. Our finance solutions, like others provided by non-bank financiers, have been built with you in mind.

Give us a call….we’d love to learn more about your business.

Stephen Dawson, Grapple Founder & CEO