Case Study: Mike the Busy Builder

Sick and tired of dipping into his savings!

Mike’s an experienced builder with a crew of seven. Like many, he proudly runs his business from his ute.

Some of his projects are on hold and, unfortunately, he’s already bought the materials. Luckily, another job has come up, but he now needs to order equipment and supplies for it, as well as for a few new ones that he knows will start soon.

His customers pay on completed milestones, which often means it’s months before he gets paid. Every time there’s a cashflow crunch, he has to dip into his savings and miss his salary, just so his subbies can get paid.

He needs to smooth $145,000 over 12 months to get what he needs and nail his deadlines.

Staying on top!

Mike selected Sinch BizFlex to smooth $145,000 over 12 months with weekly instalments.

He stops using his savings and now pays his suppliers and subbies on time.

Mike only makes an installment of just under $3,000 per week.

He loves how he can easily dip into his $43,500 interest-free cashflow buffer to pay the invoices for the equipment and materials when he’s short.

He’s so happy that he was able to maintain his regular salary and his strong payment reputation with his suppliers, maintaining a good standing and favourable trade terms.

And, for a change, Mike will be ready for tax time, because the payment automation gave him back a lot of time.