Type of Business
Medical Equipment Wholesaler
Required Loan
$200,000
Loan Purpose
The client is a medical equipment wholesaler who recently won a contract for a new hospital. They require $200,000 in order to purchase additional stock to fulfill the new contract and do not have assets to back them up. The business has strong cashflow and will be able to repay the loan over a 12 month period.
Solution
Solution amount in each case isn’t the same as the requirement.
Type of Business
Clothing Wholesaler
Required Loan
$250,000
Loan Purpose
The client requires $250,000 to purchase stock direct from a manufacturer in Asia who requires Cash On Delivery terms. Previously, the client was purchasing stock from a range of wholesalers in Australia who allows 30 to 60 day payment terms. The new supplier would allow for a 20% margin increase but funding the Cash On Delivery payment creates a working capital requirement and the client lacks any form of asset security.
Solution
Solution amount in each case isn’t the same as the requirement.
HOW MUCH CAN I BORROW
The maximum amount you can borrow is based on the revenue and cash flow of your business.
HOW OFTEN DO I MAKE REPAYMENTS
You choose from either daily or weekly repayments. Which ever fits best within your cashflow.
HOW FAST CAN I GET MY MONEY
That depends on the loan amount and how fast you supply the required paperwork but it is less than 5 working days.
In fact if you consent to allow a view only electronic access of your bank statements, it is even faster.
HOW LONG IS THE LOAN FOR
A fixed term of between 3-12mths
WHAT CAN I USE THE FUNDS FOR
The list is endless as long as it is business related e.g. growing your business, renovating or expanding business premises, purchasing equipment, hiring more staff, paying Tax debt (parameters apply) buying bulk or discounted stock, upgrading IT systems etc.
WHAT PAPERWORK DO YOU NEED
CAN I BORROW MONEY MORE THAN ONCE
Absolutely, in fact 85% of our clients return for another business loan.
What if I have been in business less than 12 months
There may still be ways we can help. Please contact us so we can discuss your individual circumstances in more detail.
What if I have impaired Credit
We may still be able to help. Please call to discuss your individual situation further.
I am a discharged Bankrupt, can I still borrow money
We understand that life has many ups and downs and offer an open mind and understanding approach in finding a solution to your needs. It may just take a little longer and we may need more information.
After making a phone call to cash for business last Tuesday for help with either a line of credit or overdraft facility on our business account. Cash for business filled out a Prospa online application form and within 2 hours somebody from Prospa had called me. They asked a few questions about my business and within 24 hours after that phone call, our credit was approved 20k more than what we asked for and available. Not only was Cash for Business very quick to respond they are also very easy to deal with.
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