Credit Line Alleviates Financial Anxiety for Small Business

“Just knowing the funds are there has given me peace of mind. It’s a safety net we can rely on if we need to,” Navid Bahadori, Co-founder, Broken Yellow.

Financial anxiety, we’ve all been there. It can appear suddenly when a business takes a turn or creep in over time. As of last month, 27 per cent of Australian small businesses said they were ‘very concerned’ about cash flow and a lack of finance.

Even with a proven business model and a passion for the task at hand, businesses feel the strain. As was the case for Broken Yellow, a film production and design company founded by Navid Bahadori and two of his high school friends Mario and Brendan.

The trio took different paths after school but a shared passion for beautiful imagery kept the friends entwined. For more than 15 years they made short films and video clips together on the side until they decided to turn their shared passion into a business and Broken Yellow was born.

Since then the business has grown substantially and secured a number of lucrative contracts including the Australian of the Year Awards.

Every year Navid and his team have the pleasure of interviewing every Australian of the year finalist (there are 32 each year). Since working on this project the team has been given a rare insight into the mind of Geoffrey Rush, been left in awe of Adam Goodes’ strength and have most recently been inspired by domestic violence campaigner Rosie Batty and diversity advocate, David Morrison.

A far cry from his previous life in tax consulting, Navid has immersed himself in the creative industry of film production and enjoys the daily challenges of the business.

“I love the diversity of this job. Every day is something different and every person I interact with has a unique point of view. It’s a challenge with its own reward,” said Navid.

Like many others Navid keeps a close eye on the cash flow management of the business.

“The financial side of the business keeps me up at night. Do we have have enough cash for live projects? Can we pay our staff? These are all questions that cross my mind daily,” Navid explained.

In search of a line of credit for the business, Navid reached out to Spotcap, an online lending platform for small business, to alleviate his financial anxiety.

“What I liked about Spotcap was that they were willing to listen to our story and the growth that were experiencing and work with us to find a solution. Something I wasn’t getting from other major lenders,” Navid recalled.

When a business is approved for a loan with Spotcap, it has three months within which to draw down the funds. The business will not pay interest on the loan until it has been drawn down making it a good option for businesses like Broken Yellow looking for a financial buffer.

“Just knowing that the funds are there has given me peace of mind. It’s a safety net we can rely on if we need to,” said Navid.