Short term finance can help unlock your business potential through increased cash flow. Investing in your business can take some time to show the results; being able to spread the cost of your payments means you can keep your cash handy. Here are some of the key benefits of using short term finance for your business:
● Invest in the future - wasting labour hours with old or outdated equipment? Invest in efficiency with confidence.
● Finance made simple - no lengthy contractual arrangements tying you into multiple-year agreements. The iwoca facility is as flexible as you need it to be - repay whenever you want with no fees and make further payments to spread costs as you please.
● Keep your books healthy - iwoca can create a 90-day interest-free bridge while your investments come to fruition, and take the sting out of larger spends.
● Help your business flow - make your money go further and take the stress out of accessing finance.
The day-to-day expenses of most businesses shifting from a small to medium size – paying wages, rent or paying for stock and equipment – will inevitably grow. These outgoings require working capital and are the number one reason business owners look for finance.
Buying property, machinery or even software is an essential step towards growing a small business. However, it can be hard to find a large sum of money or save up to buy an asset outright, so a business owner might seek external finance.
The owner of a delivery business might need to buy a vehicle that costs tens of thousands of pounds. If it’s needed to generate revenue immediately, like winning a contract that requires expanding the fleet, it can be difficult to find that sum of money at short notice. Seeking a loan to cover the purchase of the extra vehicle would not only help the business meet the contract’s obligations but also help the business expand and make it even more profitable.
Using finance can help you take advantage of opportunities that you might not be able to access from your current pool of capital. Spreading payments and securing necessary equipment or services through finance can provide your business with the opportunities it needs to grow. iwoca can help you with this: our point of sale finance option allows you to secure the goods or services you need while maintaining your current capital supply. You can spread payments over a period that suits you and your business because we know that small and medium-sized businesses need flexibility for their business to grow.
Finance can often feel like a painful topic to talk or even think about, but it doesn’t have to be this way. With no early repayment fees, no setup fees and 3 months interest-free on your first transaction, spreading payment on your purchase may be the key to unlocking your business’s potential.
Thank you for reading.
At Bongo IT, we know that technology is increasingly dominant and crucial to maintaining business performance and productivity.
Organisations should make sure they are making the right IT decisions for their current needs, whilst also planning for the future with flexible and scalable solutions.
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