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New integration with Stripe Capital provides eligible businesses with a fast and flexible financing option, streamlines cashflow and improves flexibility

Fergus, a leading job management software provider for the trade industry in Australia, New Zealand, and the UK today announced the launch of Fergus Capital for eligible Australian businesses.

Created in partnership with financial infrastructure platform Stripe, Fergus Capital offers a new source of finance that can help overcome the uneven payment patterns experienced by many tradies.

Fergus CEO Mark Bartels said, “Cash flow is one of the biggest challenges facing trade businesses. You often need to pay for materials, tools or staff before you get paid yourself. Fergus Capital is designed to help bridge that gap, giving our customers fast, simple access to funding when they need it most.”

Fergus CEO Mark Bartels

 

Stripe will base its offer of finance on the volume of payments that a tradie is making through Fergus Pay, Fergus’s secure, Stripe-powered payment gateway that lets tradies accept credit cards, mobile wallets, and contactless payments directly from their customers. Funds will attract a fixed flat fee and are paid back via a percentage of sales until the total amount is paid. The system provides availability of funds within days.

“Traditional lenders often struggle to assess trade businesses because income can fluctuate from project to project. By partnering with Stripe, we are able to use real trading activity to make the process much simpler and more accessible.”

Most lenders also require business borrowers to complete a large volume of paperwork and provide evidence of their business history. This can make obtaining finance difficult for those who are just starting out. In some cases, tradies are forced to put up significant collateral, often including their house, to provide a guarantee for the lender.

"For many of our customers, months of trading history is enough to receive a financing offer. That means less paperwork, faster decisions and more time focused on serving customers and growing their business." he said.

“We are excited to be working with Stripe and expanding our services for our clients,” said Bartels. “I am confident it will fill a gap in the market for finance tailored to active trades businesses.”

About Fergus

Fergus is a leading job management software specifically tailored for trades businesses worldwide. It aims to alleviate the administrative burdens of running a trade business and empower tradespeople to improve time management and efficiency, and drive profitability.

Fergus was founded in 2012 and developed as a cloud-based platform enabling end-to-end operations management for small to mid-sized trades businesses. Its core features include automatic supplier invoice integrations, detailed reporting on profit margins, and a user- friendly mobile app for managing admin tasks on the go. Additionally, Fergus offers robust tools for quoting, scheduling, timesheets, invoicing, and workforce tracking, health and safety management, and resource planning.

Fergus has revolutionised the way trade businesses operate with over 25,000 tradespeople worldwide, including Australia and New Zealand, using Fergus. It includes accounting integrations for Xero, MYOB and QuickBooks, and integrates with leading suppliers, such as Bunnings, Reece, Rexel, Tradelink, MMEM, AWM, CNW, Haymans, and Samios.

For more information visit: https://fergus.com/