FundMe provides unsecured small business funding and helps SMEs all over the country access responsible short-term finance from $5,000 to $300,000.

According to the Australian Small Business and Family Enterprise Ombudsman, Small businesses account for 35% of Australia’s gross domestic profit and employ 44% of Australia’s workforce. Of the 877,744 total employing companies, 823,551 are small businesses (93.8%), and of those businesses, 627,932 are businesses that use only 1-4 people, known as micro-businesses (2019).

However, the main challenge facing small businesses, according to the ABFEO in Australia, is the late payments of customer invoices. Just over half of small businesses receive invoice payments late, with late payments arriving an average of 23 days after they are due, causing cash flow issues to the company.

Accessing external capital to support cash flow is also becoming more difficult, according to Kate Carnell from the ABFEO. In February 2019, the big banks lending to businesses decreased by 2.4%, and since February 2018 it has reduced by 3.3%. However, we have seen immense growth over the last decade, and more small businesses are looking to us instead of the banks to provide them with working capital.

We fund business loans in Australia with different credit criteria than what the banks use, we can also get you the funds within 24 hours, instead of weeks like ANZ, Commonwealth Bank, Westpac or NAB. FundMe can also fund businesses with low credit scores and that have had previous unpaid defaults.

Speak to a lending specialist today on 1300 765 566 to get funds in 24 hours or start your application and apply for an unsecured business loan in Australia now.