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Australian business finance solutions provider this week to help businesses facing unprecedented delinquency turmoil, rising interest rates, supply chain delays, rising costs, labor and skills shortages and market volatility announced a new solution to
The company’s AI-powered, low-document invoice finance product enables businesses to leverage customer invoices to improve cash flow.
according to Lee TregoAustralia’s economy remains resilient despite the challenges facing businesses, but businesses need help to ensure cash flow during this time of unprecedented volatility. is.
Our new product will allow businesses to access the financial support they need without being forced to jump through undignified and time-consuming hoops just to withdraw funds from their own bills. Its been a long time coming, said Trego.
Invoice finance allows businesses to access equity in unpaid invoices in order to generate advance payments, using the invoice itself as collateral.
The solution allows businesses to get loans of up to $500,000, unlocking cash within 24 hours.
The solution supports industry-specific automated pre-approvals for manufacturing, transportation, wholesale, recruitment, equipment rental, security services, and more.
Business owners don’t have to build a house or transfer shares. Invoice financing is ideal even for businesses with tax liabilities or other transactional challenges, continues Trego.
Our new product will help even more companies.
According to the survey results of zerocontinues to be in arrears across Australia.
On average, more than 50% of all invoices sent to customers by businesses are paid 23 days late.
In addition to cash flow functionality, the solution also supports debt collection services and can be integrated with customers’ existing accounting software.
Trego also explained that due to the growing demand for multi-product financing solutions, Earlypay will now exclusively offer equipment financing alongside cash flow lending solutions.
By making this change, we will be able to help more companies by offering flexible solutions across our product suite. It’s clear to us from our clients that our growth is supported.
Trego said the pandemic has created an “unusual set of trading conditions for businesses” and said it will be up to businesses to act quickly to ensure successful cash flow over the next 24 months. .
