Capify Launches New COVID Flexible Loan Solution To Support Businesses In Their COVID Recovery Growth Phase
Leading Fintech looking to deploy A$50 million supporting SME’s to recover and set up for success in the “new normal” future with a new product whereby repayment is only made as a business’ sales occur.
(Sydney, Australia) – Capify, a national leader in alternative SME finance has announced the launch of its innovative new finance solution, COVID Flexible Loan, to support Australian businesses in their efforts to recover and thrive post COVID with minimal impact to their cash flow. This program allows SMEs to make repayments of the capital provided based on a % of their sales, eliminating the concern of business recovery levels to make debt repayments.
With government support measures such as JobKeeper and Retail and Other Commercial Leases ending by 28th March, it will be imperative for small businesses to access working capital as they continue to rebuild and invest in the future growth of their business.
The COVID Flexible Loan is an adaptable, short-term finance solution designed to give business owners peace of mind during such uncertain times as they are not committed to any fixed monthly repayments. Instead, with this unique financing program, repayments are based on a % of the businesses’ future sales, so it remains consistent with what the business is turning over.
Speaking about the need for this solution, John de Bree, Managing Director of Capify Australia says “Many businesses are in a precarious predicament where they need access to working capital but are cautious about committing to a loan with fixed repayments if their turnover is impacted in the future. That is why we are stepping up with a new financial product for the Australian market and making our customers recovery a priority. We ONLY get paid when the business gets paid by their customers. A variant of this product has been mainstream in the US for nearly twenty years and has not been widely introduced to the Australian SME market”.
The COVID Flexible solution will be available to all businesses who accept EFTPOS, debit and credit card payments from their customers.
Capify is an online lender that provides flexible financing solutions to SMEs seeking working capital to sustain or grow their business.
The fintech company has been operating in the Australian market for over 12 years and has a sister company, Capify UK, which provides similar services in the United Kingdom to UK SMEs for over 13 years.
For more details visit www.capify.com.au
Capify Media Contact
Nandita Graham | Senior Marketing Manager
+61 433 511 653