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Working Capital for Christmas

Working Capital for Christmas

If you run a retail store, seasonal sales spikes can represent a huge chunk of annual revenue and it’s likely the Christmas season will represent the biggest spike of them all.

To make the most of the festive season, you’ll need to ensure you can deliver a high volume of product to meet the wall of consumer demand.  You’ll also need to ensure people know where to find your product. It’s likely preparations for the festive season would have started long before Q4. However, even the most prepared many not enough have working capital to see them through to Christmas. For example, if you’re making a large purchase ahead of the festive season, you’ll not only need money to fund the purchase, you may also need to pay for more personnel, an increase in the marketing budget and additional operational expenses.

Short Term Finance

Fortunately, there are options available so that you’re not left short in the lead up to Christmas. The obvious choice is traditional bank borrowing; for example, an ongoing line of credit. The major problem in dealing with a traditional bank for short term finance is that they’re unreliable.

There’s no certainty throughout an application process that may take months. For loans of less than $250,000, the approval rate is around 56%. To state the obvious, that’s 44% that were not successful. To qualify for a loan, your credit record must be unblemished and, typically, have some collateral to offer (e.g. the family home).

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Introducing Moula

It’s this problem we’re attempting to solve at Moula. By providing a fast and convenient application process, we offer financial certainty in the lead up to Christmas. As opposed to some of the alternatives, our pricing is entirely transparent: no hidden fees, no establishment fee and no penalty for early repayment.  Moula will only charge interest on your outstanding balance.

So, in the lead up to Christmas, don’t hesitate to visit Moula. Make sure you’ve spent the necessary time educating yourself on the various options available to your business. As a fast and flexible process, with no obligation to take the money, Moula is worth a visit. Apply online for a working capital loan today.

Author:

All the thoughts, ideas and musings from the Moula team! Covering everything from work/life balance to general finance tips plus everything in between!

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