Invoice Factoring (or invoice finance) give you on call access to up to 90% of your debtors on ongoing basis. For example:
DEBTORS LEDGER = $50K
ACCESS AN ON-CALL OVERDRAFT OF UP TO $45K
DEBTORS LEDGER = $200K
ACCESS AN ON-CALL OVERDRAFT OF UP TO $180K
We are able to access your debtors ledger automatically by linking to XERO or you can submit invoices on a weekly basis if you prefer. Your customers are then instructed to pay a new bank account that we set up for you that can also link to your XERO.
We pay up to 90% of the value of your debtors ledger immediately and the remaining 10% is paid to you when your Customer pays.
Invoice factoring can generally be used alongside any other cash-flow facilities that you have and can provide a large cash injection without the requirement for any property security or other arduous conditions that the bank will require.
Invoices can be funded for up to 90 days from the date that they are created.
The costs for an invoice finance facility will vary depending on the size and risks involved but will generally always be less than what you offer your customers for prompt payment discount.
DO I QUALIFY FOR INVOICE FACTORING?
- Are you a business selling to other businesses?
- Do you produce invoices for completed goods/services?
- Do you have foretasted turnover in excess of 250K?
- Are your invoices due within 90 days of invoice date?
IF YOU ANSWERED YES, THEN APPLY BELOW
Please provide your contact detail here and we’ll be in touch to discuss your needs.
In most cases we will be happy to fund start ups using invoice finance. Our security is in the debtor that we are funding so trading history as not as important as for other products.
If you are dealing with other businesses on credit terms and invoicing for completed work or services you will likely qualify for invoice finance
In most cases your debtors will need to be made aware of the invoice finance relationship. This is not generally a bad thing as most companies are already dealing with invoice finance companies as it gains in popularity.
Some Clients may, however, qualify for our undisclosed invoice finance product. This product is entirely undisclosed to your customers.
With undisclosed invoice finance we connect to your accounting system and load the total balances you create on a weekly basis. You are allocated a new anonymous bank account for your customers to pay into.
To qualify for invoice finance you need to be profitable with a good spread of debtors.