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Also called debtor finance, cash flow finance is suited to business owners who need a speedy solution to liquidity problems. Instead of waiting for customer invoices to clear, you can borrow against the value of those invoices and unblock cash flow issues without the need for assets or working capital. This loan from Bank of Queensland (BOQ) doesn't require property as security.
As long as you sell goods and services to other businesses (on credit terms), debtor finance may be a suitable solution for you.
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Product Name | BOQ Cash Flow Finance |
---|---|
Max. Loan Amount | No maximum amount |
Loan Security | Secured |
If your business is experiencing cash flow problems or limited fixed assets, you can use outstanding customer invoices as collateral for debtor finance. Once BOQ has run a credit check to verify your business's financial status, it can lend up to 80% of the total value of the outstanding invoices (with the remaining 20% funded once your customers have paid).
This way you can carry on running your business and filling orders without waiting the standard 30 to 90 days for customers to pay their invoices.
Business owners interested in this loan type can benefit from the following features:
Here are some of the fees you will be required to pay:
You can submit your application for BOQ online. You'll be asked to provide details about your personal and business finances, following which BOQ will run a credit check to ascertain your business's financial health. BOQ will then decide how much to lend your business and deposit funds into your account within 24 hours.
Besides proof that your business can repay the loan, you will be asked to provide the following information:
Whilst we don't compare the BOQ Cash Flow Finance Loan directly, use the table below to see how they compare against other loans.