Cloudfloat Updates: Coronavirus (COVID-19)
Keep the Cash Flowing (20th April, 2020)
Cloudfloat Article: How to keep the cash flowing? Many small businesses will be forced to make difficult decisions in the coming weeks. Read more...
Government relief (2nd April, 2020)
The federal JobKeeper program that was recently announced aims to help employers retain staff amid the slowdown. If eligible, you can receive up to six months worth of government payments to help pay employees. The details of JobKeeper are evolving with more clarity in coming weeks as the legislation is passed by Parliament.
Reducing processing fees for 30 day instalment terms (26th March, 2020)
Cloudfloat has reduced the processing fee for 30 day instalment terms by a huge 35% to 3.4% of transaction amount. This remains an interest free product, instalments are made over 30 day term. This is a great product to delay expected payments in the short term. We believe this will free up cashflow for shorter periods while awaiting the government assistance packages to be extended. Cloudfloat is currently assessing the reduction of the 60 day instalment plan.
Statement on COVID-19 (24th March, 2020)
As the coronavirus situation continues to evolve, we know this is top of mind for our customers. We see it in the news, our daily activities and our businesses. We're here with you throughout this. For businesses, we know the spread of coronavirus will impact your business dramatically. It’s possible that your employees may need extra time off to get medical attention, or to care for loved one who have been affected. Many small businesses will be (or are already) experiencing cashflow problems as customers delay payments, close credit terms or follow government instructions to self-isolate.
The health and wellbeing of our clients, employees and stakeholders is paramount. We are utilising our systems and technology resources to adapt the way we operate. You shouldn't encounter any disruption to operations and our client experience remains at a strong level. We are committed to providing exceptional service to our customers.
Many of you are already taking advantage of our services. If you’re not, this could be a good time to get help with your cashflow problems in these unprecedented times, and pay your invoices with cashflow-friendly instalments using Cloudfloat's incredibly quick and simple way to pay suppliers over time.
During these unprecedented times, to help you smooth out cashflow, we are assessing processing fees on all instalment payment plans. This is to assist you while you wait for the government support packages to kick in, which is not due until the end of April. If your customers require extended credit terms, our platform allows you to provide extended interest-free terms to your customers while you still receive cashflow immediately. This allows you to keep conducting business with the confidence you will get paid.
We are monitoring this situation daily, and, as we do with any unusual event, we will watch what’s happening and adjust business operations and policies as needed. Looking forward, we are pursuing easier ways to help small businesses through these difficult times. Reach out if there is any way we can help.
We look forward to keep helping you.