When you’re starting up a business, growth is everything. But there comes a point where too much expansion too quickly can be overwhelming and cash flow problems start to make day to day business life difficult.
Business owners will reach a point where they need to consider financing in order to bridge that gap.
Businesses reject bank loans
Traditionally, many businesses have applied for a bank loan but the problem here is timing. A recent report from Judo Bank found banks take on average 42 days to discharge loans when an SME switches lenders. A growing business needs access to money quickly.