Sharpen up to borrow more.
Business ownership can be a turbulent journey, and that’s before you try to get support from a big player in the finance industry. Perhaps you were fortunate enough to get attention but then found the process of securing a loan arduous and slow: Is this your experience?
Many Influx Funding clients share the hardships their business have endured while awaiting funding, funding that sometimes never eventuated. Such an event can make or break a business at a critical time.
Influx Funding empowers business success through funding sourced via the alternative finance market. Never heard of the alternative funding market? It’s a group of small and nimble banks, financial technology firms and private financiers who have stepped up to fill the void and help small business bypass the rigorous and archaic processes of the more established players.
Great news, right? We thought so, hence Influx Funding is an independent and personalised way to connect you with the right lender within the alternative finance market. For those with existing funding arrangements, we can help you improve your arrangements or gain additional funding because we know how lenders think.
There are three things you can do to improve your finance arrangements and gain additional funding;
- Reduce funding costs – Lenders understand that your business risk reduces as your business becomes more established, diversified, and efficient. Demonstrating this encourages the lender to price your business loans more competitively, and if they don’t, then you should test the market and change lender.
- Demand service – Where there is a lender process which affects the efficient running of your business, seek to minimise or eliminate the issue. Do you need more information or analytics, a dedicated point-of-contact, or better after-hours support? Just asking for better service can keep the lender on their toes and give you the full benefit of their capability.
- Manage existing loans – Lenders will provide more funding where existing loans have been well managed over time. Pro-actively asking for and gaining a higher loan limit simply arms you with the flexibility to implement new initiatives without delay.
These simple activities can make your business more appealing to lenders, increasing your capacity to borrow and grow, and we can help you get there. Contact Influx Funding today to learn more about your funding potential.