Working within the disability services sector comes with a raft of unique challenges, but as a small business owner those hurdles are compounded when it’s time to seek funding. After being knocked back by traditional lenders, Cinci Dymock of Focused Supports was approved for a Prospa Small Business Loan, helping unlock a new phase of growth.
Surviving as a new small business
In 2017, Cinci created Focused Supports, a Perth-based business that delivers care and support services to those with disabilities in the local community. There was a clear gap in the market, and Cinci was adamant she could make a difference to a lot of people.
She was right – and within a year it was clear that, with additional resources, Focused Supports could assist an even greater number of clients and their families. But, as the business was still in the startup phase, financing options were limited.
“We were looking at establishing offices and expanding our team but, because we had only been in operation for a year, the banks weren’t too interested in lending to us.”
The problem, Cinci says, was exacerbated by a serious lack of understanding around the disability services sector as a whole, with the big banks simply refusing to acknowledge the validity of the Focused Supports business model.
“When you talk about the National Disability Insurance Scheme (NDIS), a lot of banks don’t really understand the concept of our business. And because it’s not the mainstream type of business, they say, ‘We don’t do that’.”
The right funding at the right time
Cinci worked closely with her broker, Michael from Do Financial, to explore alternative options that would not only provide the necessary funding in a short amount of time, but would also invest in the long-term aspiration of growing her small business.
“Our broker proposed that we go through Prospa and it was great – it was painless and quick. They actually looked into what Focused Supports does, what our needs were, and they supported us with the funding to meet our needs.”
The result? A small business loan enabled Cinci and her team to be positive about the company’s future.
“We now have about 30 staff, so we’re expanding all the time. The loan also helped us with a long-term lease and established some equipment needs.
“Often you’re waiting a lot longer than expected with finance and funding. But with Prospa it meant we had cash flow to expand as opposed to being in a holding pattern.”
Hear more about Focused Supports’ story:
What’s next for Focused Supports?
Thanks to the freedom the Prospa Small Business Loan created, Cinci says Focused Supports will target further expansion in the near future.
“We have an office in Midland, Perth, we rent a property in Bertram and there’s another property we just bought in Wellard. These properties represent the next phase of our business – we’re providing full-time, 24/7 accommodation for people with disabilities.
“We’re expanding all the time depending on our clients’ needs. When people need us, we think outside the box and help them. Just like Propsa has done for us.”
A Prospa Small Business Loan helped Focused Supports manage cash flow so that the business could:
● Secure a long-term lease, with plans to expand further across Perth.
● Procure vital equipment.
● To grow its staff roster, now employing around 30 staff members who are experienced in the disability services sector.
Whether it’s growing your business, funding an opportunity or just covering cash flow, find out how Prospa can help with your next. Talk to your broker, one of our business lending specialists or find out more.
The information on this website is provided for general information only and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from financial, legal and taxation advisers. Although every effort has been made to verify the accuracy of the information, Prospa, its officers, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy, or omission from the information or any loss or damage suffered by any person directly or indirectly through relying on this information.