Intellichoice offers alternative business finance solutions for Australian SMEs

A survey by the Council of Small Business of Australia (COSBOA) indicates the nation’s small businesses remain unconvinced that the financial downturn is over and that many are still struggling to get finance from their banks.

Intellichoice Financial Services CEO Darin Hindmarsh says there are fewer choices for business borrowers in the present climate.

“There’s no doubt the banks are maintaining tighter credit conditions,” he said. “At the same time, businesses and consumers remain generally cautious in the wake of the GFC. And that leaves small businesses with little room to move.

Mr Hindmarsh goes on to say that ‘the small business market bears a disproportionate level of the pain when it comes to the availability and affordability of credit.”

Access to flexible finance remains a key focus for SMEs in Australia. Small business concerns about access to finance are not new, and still remain the number one concern for small businesses across Australia.

“Most small businesses are more concerned about access to finance than they are about any other issue,” said Mr Hindmarsh.

In light of the tightening bank lending criteria, which is making it very difficult for many Australian businesses to grow or take advantage of any opportunities that arise in the marketplace, Intellichoice helps where the banks cannot by offering alternative business cash flow finance solutions.

Invoice finance, debtor finance, inventory finance and equipment rental finance are some of the options available for eligible SMEs.

Invoice finance allows businesses the ability to free up – in some cases, up to 80% of invoices – meaning some of the pain of balancing cash flow has taken care of.

Inventory finance can allow business operators to take up opportunities when they arise by injecting much needed cash into the business. This can be the case where goods/materials are to be purchased and then on sold quickly in 1-3 months.

Equipment rental, instead of leasing can in some cases be a valid option if the equipment will eventually fund itself. This can be useful to buy equipment and machinery with a rental repayment held off balance sheet-useful when short-term contracts are on offer, and when lenders are not willing to advance leasing facilities on big-ticket items.

The business finance specialists at Intellichoice have been helping clients to grow using alternative business finance solutions for over two decades. To find out more about invoice finance, inventory finance or equipment rental finance, speak to one of the business finance advisors at Intellichoice today on 1300 55 10 45 or email info@intellichoice.com.au. Alternatively, visit www.intellichoice.com.au for more information.

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