Traffic Control Start Up Crashes Into a Financial Brick Wall

Two entrepreneurial young brothers started a traffic control business. They were very successful and quickly gained some very good work, mainly with government and semi-government bodies. Within 6 months of starting, the new business already had over $180,000 owed to them by their government debtors.

The Problem

This all sounds great; except, governments at all levels tend to be very slow payers. 

Due to slow payment from their debtors, the company could not afford to pay their own creditors on time. In order to stay afloat while they waited for government debtors to pay, the company approached their bank for an overdraft.

Unfortunately, they end up in a circular discussion with the bank because no value was attributed to their debtors and a minimum of 2 years financials were required for an application to even be considered. The business was stalled and could not grow; the future looked bleak.

The Solution

Not knowing where else to look, the business approached Nova and within 24 hours, they had a funding offer and a way to pay their creditors.

Result

The business was able to use the creditworthiness of their debtors to gain a cash advance from Nova and pay their bills.

What Our Clients Say About Us:

5/5

Since commencing business with Nova Cashflow Finance, their service has been impeccable, always working with our staff to meet deadlines and meet business requirements. The team at Nova Cash Flow Finance are easy to work with and have excellent interpersonal skills. Nova Cashflow Finance have a user friendly online interface which allows us to submit invoices, download reports and update customer information with ease.
I would like to ask you to consider Nova Cashflow Finance for your factoring needs of your company. I strongly recommend the services of the company.​

Connie

New Labour Hire Business

Nova provides our business with a reliable easy to use cash flow solution. Their funding has helped our business grow and develop. They have easy to use online software that is very transparent so we can see what is happening with each and every invoice. ​

Tyler R

Transport Business Owner

I don’t think I could operate my business without Nova Cash Flow Finance. They turn my loads into cash and keep my wheels rolling.

Clive S

Transport and Logistics Operator

Cash is King in our business and Nova Cash Flow Finance have solved our cash flow problems more than once. It’s one of the best moves we have ever taken.

John M

Distributor

Nova Cash Flow Finance have been a big help in our business. Keeping the cash flowing and helping us to pay our bills and grow our business.

Trish W

Contractor

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If you have any Cash Flow Finance or Working Capital requirements, feel free to contact us on 0467 299 303 or email us at operations@nbf.com.au.