15 October 2012
Short term business finance has been around for decades, however it wasn’t until Crown and Gleeson commenced business in 2002, that the industry was revolutionised.
Crown and Gleeson have proven that if you require funds you didn’t have to wait the six weeks. Funds are now available within 24 hours. Crown and Gleeson developed the skills and systems to achieve this unheard of result. This allowed businesses throughout Australia to take advantage of opportunities as they arose.
Short term business loans allows a business to bridge the gap. This gap can be 1 day, 1 week, 1 month or even a year depending on the client’s circumstances. This gap could be the difference between completing a job and getting paid or not completing the job and going under.
Crown and Gleeson has seen short term finance come along way over the last decade. Crown and Gleeson now guarantees to settle loans in 24 hours* if the client requests it. Crown and Gleeson has built their systems to be cutting edge and cannot be beaten when it comes to speed or service.
A contractor is doing the tiling for a building block. He will be paid 60 days after the job is completed but still needs to pay sub-contractors and for the materials before the job is even started. This is the perfect scenario for short term finance. The contractor needs an amount upfront to complete the work to entitle him to get paid and make a profit. Without the funding he couldn’t even start the job. The gap here is approximately 90 days.
While short term finance is typically more expensive than traditional finance the real question is whether businesses can afford NOT to use it.
Some pitfalls and traps to be on the lookout for when dealing with other short term finance companies:
If you found this article helpful you might also find our What is Short Term Business Finance article valuable too.
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