construction is booming
“We never thought our business would thrive during the pandemic, but there has never been more demand for renovations and building work”
Mark and Matt
builders are in short supply
It’s no secret that New South Wales is in the middle of a building boom. A glance at Sydney skyline shows an array of cranes supporting many landmark new buildings as they emerge from their foundations. Look more closely and in every local town there are utes parked up with workers re-modelling houses, gardens and general renovations. With everyone’s dream home needing a builder, plus fire and flood reparation, resources are in demand.
as contracts come in, cash flow is needed
With opportunities for rapid business growth, Mark and Matt found their current finance provider slow and cumbersome. Predicting cash flow future needs proved also to be a challenge when the market is shifting so quickly. Due to this it meant an overdraft or loan was likely not the best solution.
As existing customers of Xero accounting and software platform, a newsletter drew their attention to the app exchange where there were a number of potential business finance solutions to explore.
Thornmoney’s line of credit, backed by invoices, was chosen because they were impressed by the simplicity of the process, the confidentiality, the easy management and control provided by the thornmoney platform.
A fast set up and low fees got our finance sorted in no time. Just like our building renovations!
keeping up with demand
The thornmoney business line of credit, backed by invoices has helped the business access cash sooner, instead of waiting 40 days to get paid. This makes paying for the materials and staff significantly easier. Here are the key benefits a line of credit has enabled:
- supply chain management
- taking on new customers
- less time on administration
funding for the new normal
Our client is thrilled because of thornmoney’s simple and beautifully integrated solution with their accounting platform. With flexible funding without hefty fees, we hope their business will continue to boom and flourish in the “new normal” business world.
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