How to apply for approved Borrowing Power with Cloudfloat

At Cloudfloat, we understand the importance of access to working capital for growing businesses. That’s why we offer eligible customers the opportunity to apply for approved borrowing power, giving you greater flexibility to manage cash flow and invest in growth.

Eligibility criteria

Approved Borrowing Power is only available to businesses set up as a company or trust with a corporate trustee. It’s a pre-set borrowing capacity of up to $500,000, tailored to eligible businesses based on their profile and trust score.

This level of access is not granted lightly. Approved borrowing power is offered to customers who demonstrate consistent usage and reliable transactional behaviour on the Cloudfloat platform.

How it works

Invitation to Apply

Eligible businesses can apply directly within the app, just head to the Settings page under the Business tab to get started.

Apply for borrowing power of $20K or more

Eligible customers can apply for pre-set borrowing power starting at $20,000, with opportunities to increase this capacity based on qualifications.

Required documentation

Deed of Guarantee: The applicant must sign a deed of guarantee to secure the credit facility.
General Security Agreements (GSA): GSA’s will also need to be provided as part of the application.
Financial records (Up to 3 Years): Applicants must submit financial statements for up to three years, ensuring a comprehensive review of the business’s financial health.

Review and approval

Once the application is submitted, our team will review the provided documentation, evaluate the risk factors involved, and determine the approved borrowing power.

Why apply for approved Borrowing Power?

An approved capacity provides your business with:

Increased financial flexibility: Access working capital when needed to manage operations, take on larger projects, or seize growth opportunities.
Streamlined cash flow: Avoid disruptions and ensure smoother financial management without the need for traditional loans.

Next steps

If eligible, apply via the app and take the opportunity to unlock greater financial freedom for your business. Prepare the necessary documentation and submit your application today.

For further assistance, contact our Customer Success Team at success@cloudfloat.com.

Take your business growth to the next level with Cloudfloat’s approved borrowing power!