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A: It generally costs around 0.6% to 1.2% per month. Invoice Finance is generally cheaper than unsecured Bank Lending but more costly than a property secured Bank line of credit. The reason for this is because Invoice Finance does not require your Property to secure the facility.
A: There are many forms of Invoice Finance available, with Factoring being one of them. Often referred also as Invoice Discounting or Debtor Finance, depending upon your Company requirements together with the size and credit quality of your business will determine what type of Invoice Finance facility is most applicable.
A: Trading businesses involved in the provision of goods or services with an annual turnover of $300,000 p.a. or more qualify for Invoice Finance. There is no upper turnover limit with some Public Companies using this form of finance.
A: An Invoice Finance facility should fit in with your existing credit and account management disciplines and in some instances it may reduce the amount of credit management work required.
A: Generally within 24 hours of presenting an invoice to an Invoice Finance Company you will receive up to 80% - 90% of the value of the Invoice.