Funding Connection
Invoice Factoring
Invoice Factoring
Invoice Finance Factoring, also known as “factoring”, is a quick solution that can help with your business cash flow. A third-party company will buy your invoices from you and provide you with immediate funds. In most circumstances, the factoring company with then manager the collection of the invoices and you will receive the balance, less the factoring companies’ fees, once finalised.
- Increased Cashflow
- No Security
- Low Interest
Frequently Asked Questions
1Why would I use debtor financing?
Businesses choose to use debtor financing so that they can access the cash that is owed to them immediately, rather than waiting for their clients to pay them.
2Is debtor finance right for me?
Debtor finance is used by a range of businesses who may have a long lead time between invoicing and payment. These often include manufacturers, construction businesses, service industries, wholesalers, and growing businesses.
3Do I need to provide security?
Usually not. Most lenders will provide the facility against the assets of your business, rather than a property. But this ultimately depends on the lender and your individual circumstances.
Invoice Factoring: Eligibility Criteria
We take the time to understand the needs of each of our clients because we know lending criteria may change from lender to lender. Eligibility varies between lenders, but there are some commonalities. To give you an idea, most lenders will require the following:
- Annual turnover of $200,000
- Business has been trading for at least 12 months
- Operating at a profit and be creditworthy
Let's discuss your financing options
If you are looking for financing options to support your business, please give a moment of your time to let us show you how we can make the process of business funding quick, easy and uncomplicated for SMEs all across Australia.
Looking forward to your call.