It was a couple of days before Christmas and I was stuck under the kitchen sink wrapping duct tape around a leaking pipe (most plumbers are skiing at Whistler this time of year) when it occurred to me that the sticky tape and my debt factoring business have a lot of similarities.
Yes, it’s possible heat induced delirium had set in, but the more I thought about it the more it seemed to make sense.
Besides, the influential website, http://www.doityourself.com rates duct tape as “mankind’s greatest invention”. It’s not such a bad thing to compare yourself with the best!
What are the similarities?
You don’t have to be a brain surgeon to understand how duct tape works. Likewise with the type of debt factoring I provide – single invoice finance. Quite simply, your business can raise funds by selling us an invoice that a customer is yet to pay. You get the cash now, rather than waiting weeks or months for payment. There’s no more complexity to it than that.
When that pipe under the sink starts spraying water you need an immediate no fuss solution. Duct tape is the answer.
Likewise with single invoice finance when you discover your cash flow is haemorrhaging and you don’t have time to apply for a bank loan – assuming you’ll get one.
The quickest I have had funds to a client is 24 hours. Admittedly, that’s exceptional. Usually it takes around 3- 5 days, but in terms of business finance our funding process is lightning fast.
Just as duct tape is an affordable accessory for any household. Single invoice finance is an affordable option for a business. Just ask yourself what the cost would be of not being able to pay staff, or make a tax payment, or pay a supplier’s bill. The fee we charge to put working capital in your account when no one else will is small by comparison. Read our article on invoice finance rates to find out more and watch our video on how to boost your profits by factoring invoices.
Duct tape is so flexible and malleable it offers a diverse range of uses. Our debt factoring service is the same. We provide tailored funding to a wide range of companies – small or large, old or new, profitable or not so profitable. You can cash in one invoice, or multiple. You can do business with us just once, or as many times as you like. There is no lock-in contract.
Just as 3M’s duct tape is a class apart from similar products and brands, so too is single invoice finance as delivered by us in partnership with Fifo Capital.
We are part of an industry leading 50-strong network in Australia which has transformed the concept of single invoice debt factoring from alternative to mainstream. We also operate in New Zealand and are expanding to Asia and the United Kingdom.
There is no other finance facility, so flexible, affordable and useful for plugging those cash flow leaks.