Ready Access to Cash in any business is critical
but take care as to how you use it!

FAST CASH is what we call any facility that you draw down when a business is in a “tight spot”.
 
A quick-fix, to be used for a short amount of time, relatively infrequently.  Ideally this funding is used to take advantage of unexpected opportunities; when cashflow would otherwise prevent you from doing so.
FAST CASH can take the form of:

  • overdraft
  • pre-approved loan (unsecured)
  • even a credit card

None of the above are long term debt facilities, nor should any of them form part of your debt management, this not a funding alternative and it should and can paid back asap to minimise any interest.
If it FAST CASH is used more often it is a sign of under-capitalisation, or loss making, and either debt or business management factors need to be re-considered.







 
Things slip – the credit card balance has grown, the overdraft was extended and extended suddenly it is 12 months since it reached positive numbers… Making sure you have the best mix of the right kinds of debt will keep your business healthy.
 

When was the last time you checked your FAST CASH?

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About the Author

Eve Blackall

Eve Blackall the small business answer to The Supernanny.
At Smart Accounting you work one-on-one with Eve who has already assisted hundreds of business owners increase cash-flow, grow profits, and ensuring businesses fetch the highest price when it comes time to sell.