Our friends at Cashflow Finance, who specialise in Debtor Finance, have helped keep the easter eggs flowing to a lot of families in CQ and NQ.
The following is an extract from one of their recent articles…”
With Easter almost upon us, it is important to reflect on some trends we are seeing in the SME sector. One disturbing trend we are seeing more and more of is the impact of SME owing money to the Australian Taxation Office.
Like all creditors the ATO want their money back and are in fact starting to call in their debts, putting significant strain on businesses already struggling with low demand and increasing costs. To make matters worse, most banks will not provide finance where there is any tax debt owing and is often a reason why credit approvals are failing to proceed.
But this is where Cashflow Finance can help in the payment of Outstanding Tax Debts and the resulting cash flow benefit!
In one example, a company approached Cash Resources for a Debtor Finance facility to assist with the payment of an outstanding tax debt. Upon application, a debtor finance facility was approved by Cash Resources and the ATO debt is paid out, enabling the company to continue trading without penalty and seek additional bank funding as well….”
So IF you know someone in business who owes money to the ATO, call us to arrange a way to pay that creditor out in full and get on with your easter celebration.