Online investment marketplace Snowball Effect, has launched Snowball Debt, a range of bespoke debt solutions to support SMEs and high growth businesses impacted by COVID-19.
Having raised over $70m in capital for more than 45 Kiwi businesses, Snowball Effect has developed this new suite of services in response to the challenging and uncertain economic environment.
Snowball Debt offers a range of solutions to help businesses achieve the best debt outcome, including guidance on cash flow and working capital management, accessing bank debt funding and private debt funding.
As part of its bank debt funding option, Snowball Effect also assists with the preparation of high-quality information packages to secure bank funding, including COVID-19 related applications.
Companies affected by COVID-19 may be eligible to receive up to 100% government funding for selected Snowball Debt services, via the Regional Business Partners Network.
Snowball Effect co-founder and CEO, Simeon Burnett says, “Given the current landscape, we believe access to capital for SMEs remains hugely important for the New Zealand economy. Our role is to continue to help great Kiwi companies access the capital they need, by providing them with products, like Snowball Debt, to help them navigate what will no doubt be difficult times ahead.
“Snowball Debt will complement the variety of equity services we already have available. Our experienced team will help companies work through a range of alternative debt and hybrid debt-equity structures tailored to suit their needs.”
Snowball Effect’s network includes access to private debt funds, over 2,000 wholesale investors and family offices, and a wider investor network of over 23,000.
To learn about the Snowball Debt products and funding options, visit snowballeffect.co.nz/debt
