Movigo Group
Financial Services - , , Australia
Movigo Group Details
Torque Factor is a unique offering for the Smash Repair industry. It allows you to cash in your outstanding insurance company receivables on day 1 of the repair job, rather than at the completion of the job.Who is Torque Factor?Torque Factor is part of the Growth Factor group of companies, a specialist business that offers tailored cashflow funding solutions to selected industries. Why do I need Torque Factor?Because cash flow is the lifeblood of your business. On average, Smash Repairers can wait up to 45 days from receiving an insurer repair authority until payment from that insurer is received. Meanwhile, you have labour costs, bills for parts and other expenses that need to be paid, putting a strain on cash flow.Covering cashflow shortages with bank loans, credit cards and overdrafts can be complicated and time consuming. You may also be required to provide your home or other assets as security. Benefits of Torque Factor:Funding prior to commencement of repair – Torque Factor can fund a repair within 24 hours of the date of the Insurer's repair authority.Flexibility – unlike traditional loans and overdrafts, Torque Factor facility limits grow in-line with your sales. This keeps you ahead of cash flow requirements, particularly in times of rapid growth.Improved cash flow – your sales are quickly converted into cash, generally within 24 hours.Negotiating power – improve your negotiating and purchasing power with suppliers by using your enhanced cash flow to bulk-buy and receive discounts for prompt payments.Retain business equity – you can access funds for business expansion, including equipment purchases, rather than selling business equity.No need for refinancing – Torque Factor can be used alongside any existing bank facilities.Confidence – reduce the risk and administrative hassle of unpaid invoices.Convert your invoices into cash fast with Torque Factor
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