About Me & My Business
· What types of businesses can use cash flow finance?
Essentially fast growing businesses but more specifically businesses such as Wholesalers, Manufactures, Employment agencies, Transport companies, Building industry etc
· How do I Qualify
If you issue invoices regularly for goods or services provided to other businesses and you turnover is between $20,000 pm and $500,000 pm (in receivables) you can qualify.
· What If We Are Just Starting Up?
That is not a problem, by this stage you would have done your homework and have your prospective clients lined up and we can help with that question "how do I pay my bills while I am waiting for my clients to pay?"
· Do I need Security?
You don't need bricks and mortar security, our security is your quality receivables, as they grow, so too does your facility.
· Will it affect my banking relationship?
Each business is different but in many cases you will find that there is no further use for your overdraft as you will be receiving your money immediately, not financing your customers at the expense of your overdraft.
· How do I Apply?
You can make an application now through our "apply now" link, or call us direct, we will be happy to arrange to meet with you.
· What Will Change in the Way I Do Business?
Your business becomes much like a "cash" business, giving you cash to take advantage of discounts from your suppliers and cash to inject back into the growth of your business
· How Have Other Businesses Benefited from Using Cashflow Finance?
Please feel free to take a look at our testimonials.
About the Facility
· How does it work?
There are 3 simple steps
1. You issue your business invoice as usual and send a copy to us.
2. Within 48 hours of issuing your invoice we will deposit up to 80% of the invoice value (less a pre-agreed fee) into your bank account.
3. The balance is deposited into your bank account after payment of the invoice.
· Who sets the limit on how much?
You set your limit, however it will be governed by your receivables, the more invoices you want factored the larger your limit, your business can now grow at its own pace, not restricted by your banks lending guidelines.
· Are all invoices acceptable?
All verifiable invoices are acceptable
· What if invoices are not paid?
If an invoice is not paid within a mutually arranged period we will suggest that you repurchase the invoice to avoid unnecessary costs, normally we will manage that process for you to ensure that your flow of working capital is not interrupted. Please note though, we are NOT a collection agency.
· What Does it Cost?
The cost will vary between 2.2% to 3.0% for a monthly invoice (or as low as 1.1% for a fortnightly invoice) depending on your turnover.
About My Customers
· Who sends the invoices?
It is your choice, either you can continue to send out your invoices and forward a copy to us or we can post them on your behalf. We can even provide you with a complete accounts receivable management service with on-line status reports to help better control those valuable customers, free of charge.
· Will they Care?
Establishing a credit line is a reflection of your businesses strength, not all businesses qualify for a line of credit. Selling receivables for cash is a method of funding working capital used by large corporations world wide, only recently has this facility become available to small to medium sized businesses. You may find that many of your customers already deal with factoring companies but are unaware of it.