At the end of 2016, Josh Secomb left his communications job to run his own small business full-time. Three years on, he needed a way to keep his digital agency’s cash flow smooth between client payment periods. Josh found a Prospa Line of Credit could give him the affordable and convenient safety net upon which he relies today.

Taking the small business leap

Three years ago, Josh Secomb switched his focus from ocean surfers to web surfers and started digital creative agency Broad Reform.

“I’ve always had an interest in connecting art and commerce,” he says. “I started Broad Reform to create more opportunities to connect with a broader pool of clients.”

At the time, Josh was working as communications manager of a manufacturer and distributor of surf hardgoods, while doing other digital marketing on the side.

“The business grew until my income had eclipsed my salary. At that point, I needed to make a decision, so I decided to take the risk and step out on my own.”

Josh set up shop in a shared office space in Manly, on Sydney’s Northern Beaches.

Finding a niche

Broad Reform has found a niche in the digital marketing landscape.

“I think we’re particularly good at connecting branded companies to a millennial audience,” Josh says. “It takes a real specific set of skills to do that.”

Broad Reform helps companies such as Telstra’s Neto, Misfit Surfboards and 5G Capital Investment position themselves in front of customers. Josh’s team does everything from data analysis to content creation.

“Finding out-of-the-box solutions for problems and really trying to connect demonstrable results to creative solutions is something that really drives us,” he says.

Riding the waves of small business

Josh found himself in the same boat as many small business owners, with the lag time between invoices getting paid denting cash flow. He needed a dependable source of capital to smooth out rough periods and take advantage of opportunities.

A broker Josh knew suggested Prospa.

“It was more a curiosity thing at that point,” Josh says. “I’d been looking at other options, but I didn’t have the time or energy to follow it through in the midst of everything else I was doing.”

But with Prospa, it was different, he says, loving how easy the process was. All it took was submitting a Xero bank feed and a few simple forms. Then he just needed to decide which option – a Prospa Small Business Loan or a Prospa Line of Credit – worked best for Broad Reform.

Choosing the right path

After a conversation with Blake at Prospa, Josh opted for a line of credit, which enabled him to access funds when he needed it.

“What appealed to me in the line of credit is you only pay interest on the amount you draw down,” Josh says.

“If the account’s at zero, I’m not paying any interest. That means I can use it in worst-case scenarios, which is basically how I use it.”

Josh had funding within 48 hours of contacting Prospa. Blake’s assistance was a key factor in proceeding.

“The service I received from Blake was a big drawcard in going ahead with things – it was such a personalised experience. I asked as many questions as I could and if he didn’t have the answers he got back to me.”

Hear more about Broad Reform’s story:

The user experience

Josh, who knows the importance of user experience, says accessing his Prospa Line of Credit through the app and website has been as easy as securing it.

“I like that it has a level of security. The text messages about when payments are due are really good. It’s clear what the interest rates are and what the payments are.”

“The user experience is really good. It’s straightforward, it’s simple and it’s easy to use.”

Josh says his newfound financial flexibility was vital in helping him move Broad Reform into a new office space recently.

“I used the Prospa Line of Credit in and around that move to help from a cash flow perspective.”

From big office moves to servicing clients on a range of digital fronts, Josh feels more at ease with Prospa’s backing.

“When I’m waiting for the next invoice to come through, it’s nice to have the Prospa Line of Credit to know I can keep things moving in the meantime.”

A Prospa Line of Credit has helped Broad Reform:

  • Keep the business moving forward in-between client payments.
  • Smooth cash flow while moving into new office space.
  • Find financial flexibility.