As I discussed in my video last week about the true impact of COVID-19 on businesses (the link is in the comments section) for anyone that hasn’t seen that video. TIM Finance continues to be inundated with enquiries from business owners who are needing to access cash to navigate their business through this restriction period. Now, whilst the Government’s stimulus initiatives, including JobKeeper and the Cash Flow boost payments have assisted, once these cease in the coming months, many businesses will be faced with severe cash flow restrictions. If anyone has gone through the painful process of applying for the so called Government supported loans of up to $250,000, you’ll know that the chance of being approved for this loan and then actually receiving the cash into your bank account is very remote. In theory, it’s a good and logical idea for the Government to utilise the banking sectors infrastructure, to underwrite and administer loans to the SME market. But with only 50% of the defaulted loans guaranteed by the Commonwealth, this means the other 50% is underwritten by the banks, and the reality is, as we know banks will not lend on risk. So what options are available to business owners to bring cash into their business during the COVID-19 pandemic and restrictions? In our video last week, we talked about Fully Selective Invoice Finance, which TIM has introduced in response to demand from our clients during the COVID-19 crisis, which allows a business owner to access cash from a single unpaid invoice as a standalone transaction. This form of finance is suited to those businesses with one off, larger volume transactions. Also, in our suite of cash flow solutions is Full Ledger Invoice Finance, which is suitable for those businesses that make regular repeated sales to a range of business customers on credit terms and would like to access the cash from those sales immediately upon delivering the goods or services to their customers. Typically, Full Ledger Invoice Finance is suited to businesses turning over $1.5 million to $25 million dollars a year of annual revenue. And unlike traditional loans, there are no P&I repayments that the business owner must forecast into their future cash flows. Furthermore, with TIM Secure, our market leading trade credit insurance protection, should one of your customers have an insolvency event, then you are protected from that default. So as we move forward in these uncertain times, the cash flow certainty provided by an Invoice Finance Facility from TIM Finance will assist many business owners to keep their business afloat.