Growth Street launches cash flow management tool
GROWTH Street has unveiled a new analytic tool for its small- and medium-sized enterprise (SME) borrowers to help shield them from cash flow blips.
The alternative business lender currently offers a free cash flow forecasting tool and other analysis products to help clients manage their finances better, but recently told Peer2Peer Finance News it was preparing to roll out a wider range of data tools.
The new product, unveiled on Tuesday, identifies SMEs’ “pain points” when cash flow becomes an issue and will provide insights from the firm’s chief financial officer Ciaran O’ Donnell on how to tackle them.
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The lender cited a C2FO working capital outlook survey revealing that 55 per cent of small businesses surveyed say that cash flow problems are their biggest obstacle to business growth.
“We want to offer much-needed support to small businesses at times when they require it the most,” said Growth Street’s chief executive Greg Carter (pictured), who will guide the further expansion of the firm’s analytic offering.
“The tool aims to allow business owners to identify quick wins in their cash flow management and better position them to seize growth opportunities.”
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The firm is also planning a new broker proposition to boost its borrower base, which is set to be announced within the next two months.
Last month, Growth Street announced that it had attracted 600 investors in the five months since it started accepting retail money.
