Are you looking for funding for growth?
Progress Claim finance is for businesses who engage in contractual type arrangements with invoices billed on a progressive basis. Funding is advanced against the stage or progress claims. This extra working capital improves cash flow and helps fund growth
Types of suitable industries.
Note:- turnover needs to be minimum of $1m per year
- Construction industry
- Electrical contractors
- Flooring contractors
- Roofing contractors
- IT developers
- subcontractors working for principal contractors and operating under the Securities of Payment Act.
Type of funding available
Funding limits of up to S1m
Instant Funding of up to 70% against outstanding Progress Claims, billed under contract.
No real estate security needed.
There are two main criteria to qualify
1/ Business to business
2/ Work must have been completed.
Other factors looked at in determining risk include:-
Is turnover greater than $1m?
How long has the business been established?
How much, if any is owed to ATO?
How much does it cost?
1/ A percentage of each invoice issued.
2/ Interest on funds borrowed.
Want to know more, call us.