Factoring unsecured alternative to Overdrafts or Line of Credit facilities.
Get your money flowing with Factoring. No lengthy delays in approval. Another reason is there is no real estate security require in most cases. Debtor Finance facilities are as flexible as you desire and facilities grow when you grow your business.
- Do you run a business?(even brand new)
- Are you want a finance product that doesn’t involve your house or other assets?
- Would you want to maintain collections?
All you want is access some of your outstanding invoices ahead of payment when you need it, and your debtors searched to avoid risk.
Well Partnership Factoring is your ideal product. It is an overdraft secured against your debtors.
Tell me more about Factoring.
Simple criteria. Are you turning over $20 000.00 a month. Do you have 3 or more debtors. Do they pay you more than 14 days. If yes is your answers then you have the ability to to factor your invoices. Increase cash flow to buy more stock, to pay wages or fuel, or just pay bills ahead of time and receive a discount.
Five steps to Cash flow Finance.
- Therefore once a facility is approved send in your completed unpaid invoices.
- Lenders will verify that these invoices are completed and correct ascertaining a payment date.
- You will be given an approval percentage to draw down. Most of all you can draw up to 80% of each invoice almost instantly.
- Due to constant invoices, you can draw down funds as many times as you need. All you have to worry about is making sure payments are made on time each month to the lender.
- In conclusion once payments for invoices by debtors are made. Full amounts are placed against you loan amount. Hence its just like an overdraft. Fees are invoiced monthly.
Rather if you don’t want to offer all your debtors, maybe ask about Single Invoice Factoring.
Line of credit funding with Factoring Lenders.
This involves you placing all your invoices for factoring. However lenders will approve a set limit to be borrowed. For example if you invoice 50k a month. Your line of credit facility could be 25k. These facilities can be set up in a day or two. Not always the cheapest option. But they can be selective and very flexible in use.
Call TDFC Consultants Today to find out more.
In addition for some no nonsense answers in relation to products and lenders. Please log on to our website www.tradedebtorfinance.com.au. Furthermore you can email email@example.com or phone 07 5547 8731