One of the great things about being involved in growing Tyro’s new loan book is getting to know the Tyro merchants we now get to lend to.

Every day we’re hearing some exciting and inspiring stories about how easier access to working capital from Tyro is helping them change their growth mindset.

Deb (pictured) from Critter Bits in Bargo, NSW is one of those Tyro merchants. She recently signed up to Tyro’s fee-free business account, the Tyro Smart Account, so she could automate bill payments out of Xero. Having the account, we were able to let Deb know the business was also eligible for Tyro Smart Growth Funding.

Deb now receives pre-approved loan offers via her mobile Tyro App. And, at the tap of a button, she has access to capital when she needs it without any extra paperwork or hassle. It’s a great backstop for her growing business and is allowing her to seize opportunities when they arise, rather than let them pass the business by.

Recently I caught up with Deb to find out how life was going after taking up Smart Growth Funding. I was curious to know how her experience had been compared to other finance providers she may have used in the past. Here’s what she told me … unedited.

Did you have a specific project/financing need in mind?

We had had a few cash flow issues and had approached the bank to extend our overdraft by $50,000 and as always with the bank, it is like pulling teeth. We had been using Tyro since we went with Tower POS, so I was receiving emails from Tyro for a number of months.

I enjoyed Tyro emails as they had many short courses for business to participate in, that I did and enjoyed. When I saw the advertising for loans I was very interested. As a business that turns over $1.2 million a year, having a small loan available is great.

How was the application process?

It was very easy. A simple form to activate the bank account and a phone call to get set-up.

How would you compare the process to a traditional bank or finance company?

There is no comparison! Tyro can see what you are turning over and offer it accordingly. Tyro don’t need you to waste endless hours in paperwork and the approval process is so quick and simple. Also the money comes out daily, so there is no big monthly slug out of our account.

Was this your first time borrowing outside of the big four banks?

No. We borrowed $20,000 from Spotcap last year.

How has growth funding changed your business?

Oh it is tremendous! If we are a a little short at the end of the month, we can grab a few thousand dollars to tide us over, AND it is instant! It is just so easy.

How would you describe Tyro Growth Funding to friends or other businesses?

I love to rave to other business members about this service! I am a member of a Women’s Business Network and tell other business owners about how great it is!

What’s your experience been like with Tyro?

Really great! Excellent customer service, easy to communicate with and to contact. We use Xero and it has been a seamless process to integrate all the programs from Tower to Tyro to Xero.

At a glance

Name: Critter Bits sell pet and stockfeed supplies for animals of all shapes and sizes.

Point of Sale: Tower Systems

EFTPOS Banking provider: Tyro

Accounting software: Xero

To find out more about the Tyro Smart Account or Tyro Growth Funding, contact us here or give us a call on (02) 8907 1716 and chat to Jess, Katie and Alex from the Tyro Banking Team.