Small and medium enterprises (SMEs) play a substantial role in Australia’s economy. Indeed, more than 90% of Aussie businesses are classed as small businesses and they account for a third of Australia’s GDP. The Australian Small Business and Family Enterprise Ombudsman also says, Small businesses provide 40% of Australia’s workforce with jobs and contribute 12% of company revenue. Despite this, cash flow remains the second biggest problem for such businesses in 2018. Small businesses can conquer this issue is through invoice finance.
Online invoice finance – alternative financing for the future
Despite the availability of a wide variety of government grants, Australian small businesses are increasingly looking for alternative sources of funding. InvoiceInterchange is one such funding provider that is making it easier for SMEs to achieve their cash flow goals through invoice finance.
Invoice finance enables businesses to convert outstanding invoices into cash within as little as 24 hours. This is ideal for small businesses as it means they can easily obtain funding when they need it rather than having to wait weeks or months for clients to pay each invoiced amount. This form of alternative financing is also much faster and less cumbersome than many traditional finance options making it an ideal solution to the cash flow challenges.
Invoice finance at InvoiceInterchange
Unlike traditional finance providers, InvoiceInterchange has introduced an invoice finance product that is personalised to the needs of the business. Our speed and flexibility are what sets us apart from other providers.
Our sophisticated technology allows us to provide small businesses with fast and flexible finance in under 4 hours (provided the SME meets our criteria and cut-off times). We can also provide a range of options to suit a variety of business goals. For instance, we can provide finance on single or multiple invoices (with one or more customers) or we can work with a full accounts receivable ledger.
We pride ourselves on a quality service with no lock-in contracts and fully transparent fees that are lower than traditional finance providers and which can be paid ‘as you go’. With perks like these, clearly invoice financing with InvoiceInterchange is the future of SME financing.