In some cases, it will be a condition of your GrowthLine Agreement to allow us to connect to your accounting software and to keep that connection active. This ensures you do not need to worry about manual administration tasks like preparing monthly reports for us, and you can focus on putting the money to work growing your business.
One of the best features of GrowthLine is this lack of administrative overhead. By accessing both your current and historic accounting data, our team gains a better understanding of your business, and can have more informed discussions with you about your plans for growth. Depending on your company’s performance and risk profile, we’re potentially able to proactively increase your GrowthLine limit or adjust the rates we charge to you. This means that you can be confident that as your business grows, your GrowthLine can scale with you, so that you always have the funds available when you need them.
If you do not use accounting software, or if you use a tool that we can’t connect with, we will still need to review your management account information. This includes your balance sheet, profit and loss statement, and aged debtors / stock / WIP reports (as applicable). We will ask you to share this information every month, quarter or year, depending on the size of your GrowthLine facility. We know preparing this type of reporting can take up valuable management time, which is why we always recommend connecting your accounting software if possible.