Business Cash Flow
Cash Flow Finance
One of most important factors of a maintaining a successful business is operating cash flow.
This is critical for a business to be able to run smoothly, with so many expenses to manage - rent, utilities, staff, stock, inventory, loan repayments, invoices.. the list goes on!
A business cash flow loan, otherwise known as a business overdraft, can be a valuable tool for your business to bridge short-term gaps in cash flow expenses which will improve your overall financial stability and enable growth potential.
Some banks have restrictions on certain industries, making it challenging to secure financing. Working with us, we have an understanding of which lenders cater to your industry. We can help you navigate these restrictions and connect you with the right funding options.
Some of the major lenders will want to see things like:
1. 12 Months BAS Statements
2. ATO Portals for 12 Months showing no outstanding debt or payment plans
Some of the other lenders that still have good pricing but are a bit more flexible want to see:
1. 6 Months of Bank Statements with:
- No bounced payments
Maintaining a clean transaction history for 3-6 months is crucial when applying for a cash flow loan.
There are times when things are explainable but generally, lenders view bounced payments as a red flag.
Ensuring all payments are processed smoothly demonstrates reliability and increases your chances of loan approval.
- Funds in the account
Lenders prefer to see some cash in your account when assessing loan applications.
Minimal funds can raise concerns, making an approval more challenging to gain.
It’s best to apply for a cash flow loan while your account has a healthy balance, ensuring funds are available when you need them most.
This proactive approach gives you financial flexibility and peace of mind.
Turnaround times are quicker with the lenders that assess based on bank statements - this data gives the financier a very clear picture of the strength of the business which can see your business with funds to draw down on very quickly.
Bank Statement Connection Security
Bank statement connections used by lenders are generally secure. Most lenders use trusted third-party services, such as bank-grade encryption and secure API connections, to access your statements safely. These services follow strict security protocols to protect your financial data and ensure that your information is only used for loan assessment purposes.
Using finance can help free up cash flow
Whether it be a business overdraft or asset finance on equipment purchases, it will help your business maintain cash reserves.
Contact us at Hurley Asset Finance to help you apply for Cash Flow Loans for Small Business