cash flow funding new features

New feature: Extra working capital for financing cashflow

By mihiri Aug 19, 2019 Comments

Even healthy businesses can experience a cashflow gap at times—when cash incomings are not enough to meet the demands of cash outgoings. A temporary cashflow gap shouldn’t become a major barrier to business as usual. That’s why ezyCollect has integrated a new feature, Cash Flow Advance, to support healthy businesses to keep moving forward.

Your financial controller will often anticipate cashflow gaps. Planned capital expenditures, expected seasonal lows or large upfront payments will predictably decrease your operating cashflow.

At other times, cashflow blockages can appear swiftly to derail business. Late payments, slow-moving inventory and disputed invoices can push your positive cashflow projections into the negative. Still, with a backup plan, these shouldn’t be reasons to panic.

Cashflow lending for healthy businesses

In the ezyCollect app, approved users—companies using ezyCollect to streamline accounts receivable—will be able to apply online for an unsecured line of credit via our finance partner.

Up to AU$20,000 will be available to users pre-approved by ezyCollect. Pre-approval is based on the positive health of a company’s accounts receivable ledger over the previous six months as assessed in ezyCollect, plus a free credit check by the finance provider.

ezyCollect’s CEO Aj Singh is determined to support businesses to keep thriving. “A cashflow advance, exactly when you need it, can help to keep your good momentum going,” says Aj.


cash flow advance-1

Pre-approved ezyCollect users can apply for a cashflow advance in-app

Fast-tracked funds for immediate working capital

Because the pre-approval is done for you, any company that chooses the cashflow finance offer will receive their funds within 24 hours. 

ezyCollect’s pre-approval process takes away the time a business would otherwise have to spend on gathering and presenting their financial records.

“In conjunction with our financial services partners, we want to take away the friction that worthy businesses experience when they want to apply for a line of credit. Their data is there; they have already proven their credit worthiness,” says Aj.

Being able to access cash on demand means that your business can take advantage of great opportunities to save money:

  • Buy in bulk for volume discounts
  • Access early bird discounts for a cheaper price
  • Pay with cash to avoid high interest rates on credit cards
  • Pay suppliers on time and avoid late payment fees

Transparent fees with no hidden costs

As with any financial product, businesses should independently assess the fees and tax implications of ezyCollect’s cash advance offer. 

As an example, a $10,000 cash advance via ezyCollect incurs the following 4-month repayment schedule*:

  • $150 activation fee (Deducted from loan so no upfront costs)
  • Service fee of $100 per month throughout the life of the loan (1% fee per month)
  • 4 equal instalments deducted monthly 

You can repay early at any time for no additional cost.
(*current as at August 2019)

In summary:

  • Pre-approved ezyCollect customers can apply in-app for up to AU$20,000 as an unsecured line of credit.
  • Funds are available within 24 hours.
  • Repayments are undertaken with the finance provider.

To learn more about ezyCollect request a demo today:

Book a demo today

cash flow funding new features

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