Fifo Capital Business Finance

Fifo Capital is a financial lender for SMEs. It offers online invoice finance and factoring, supply chain and trade finance, business loans and foreign exchange services. Depending on the type of finance you opt for, loan amounts can range from a maximum of $500,000 to upwards of $5,000,000. Repayment terms also depend on the type of finance, as do costs. These loans are secured. Invoice finance is secured against your invoices, while the business loan can be secured against your invoices, stock and/or any assets owned, such as property. Secured loans come with the risk of losing your assets if you are unable to make your repayments.

Main points to consider with Fifo Capital Business Finance

Fifo Capital is a financial lender and expert adviser service for SMEs. It has a number of partnered advisers stationed Australia-wide and an invoice finance online application facility, so you can opt to discuss finance in person or on the phone and you can apply online.

Fifo Capital deals mainly with invoice finance and invoice factoring, but also offers small business loans that can be secured against stocks or other assets. Its invoice finance can be tailored for Supply Chain Finance and Trade Finance, and it also offers a Foreign Exchange service.

Features and products on offer with Fifo Capital

Fifo Capital offers a range of financial products and tailored business finance solutions. Below we've outlined the different products available and the features of those products.

1. Online Invoice Finance and Factoring

Fifo Capital offers online invoice finance to its customers. This is a straightforward cash flow solution that unlocks the capital tied up in unpaid invoices. Features include:

• 24-hour approval. Be approved for finance in just 24 hours.
• Funding in four hours. Once approved, have the money in your business account within as little as four hours.
• Single or multiple invoice factoring. You can boost cash flow with a single invoice or opt to have all of your invoices factored with Fifo Capital.
• $10,000 to $1,000,000. Get funding upwards of $10,000 and as much as $1,000,000.
• No real estate security required. Loans will be secured against your invoices, so there's no need to use property as security.
• Simple set-up. Get started quickly and easily.
• No set-up fees. Only pay for what you borrow.
• Integration. Fifo Capital's system works alongside your current banking facilities.
• No-lock-in contracts. Get funding for as much or as little as you want, with no-lock-ins.

2. Supply Chain and Trade Finance

Supply Chain Finance is a form of invoice finance that links business buyers to suppliers in transactions. Essentially, it's invoice finance for your suppliers, but through your business. In addition to the features listed above, Fifo's Supply Chain and Trade Finance option offers several additional features and benefits:

• Add suppliers to your portal. By adding your suppliers to your Fifo portal, they can access the status of every invoice and request early payment if needed.
• Pay suppliers on time. Improve cash flow for both your business and that of your suppliers.
• Receive discounts. If requesting early payment, suppliers are required to offer discounts. By using Supplier Chain Finance, your business could benefit from these discounts, which help to or may completely offset the cost of Fifo's fees.
• Extend supplier credit terms up to 90 days. Supply Chain Finance enables business buyers to extend their terms with any of their suppliers.
• Extend repayment terms up to 150 days. In some approved instances of Trade Finance without an LC (letter of credit) Fifo can pay your suppliers upfront and give your business up to 150 days to repay the funds.
• Domestic and overseas. This service is available for both domestic and overseas suppliers.
• Negotiate better supplier terms. Your ability to consistently pay your suppliers on time or early will give you a good footing for negotiations.
• Strengthen your supply chain. As a structurally mutually beneficial service, your relationship with your suppliers is supported.

3. Business loans

As well as invoice finance, Fifo offers short term secured business loans. Some of the features of its business loans include:

• 24- to 48-hour approval. Get approved for a business loan with Fifo in as little as 24 hours.
• Secured loans. Fifo's business loans can be secured against your invoices, stocks and/or any valuable assets owned, such as property.
• $500,000 to $5,000,000+ available. Depending on the value of any assets that you might own, Fifo's business loans are even available upwards of $5,000,000.
• 6 to 60-month terms. Fifo's loans are short-term, so the maximum loan term is 60 months.
• Simple repayments. Fifo comprehensively outlines your repayment amount and frequency prior to signing off on the loan.
• One-to-one expertise. When applying for a business loan, you will be allocated your own support manager, who is responsible for guiding you through the process.

4. Foreign exchange service

If you work with overseas suppliers or clients, you may be interested in opting for Fifo's foreign exchange service in addition to your finance, as this could potentially reduce the cost of your international payments. Fifo has partnered with leading international payment experts HiFX to provide this service through its platform. Some of the features of this service include:

• 800+ currency pairs. This service is available for over 800 currencies.
• Competitive foreign exchange rates. Fifo offers competitive rates, cutting your international costs.
• Tailored advice. Fifo offers a one-to-one expert service on currency advice and foreign exchange risk management solutions.
• Market orders and currency options. Ensure your rates with market orders and currency options.
• Multi-currency accounts. Have a number of currency accounts, depending on your needs.
• Daily and weekly updates. Informative market updates and technical analysis available.

For more information on Fifo's foreign exchange service, simply click "Go to site" and contact Fifo directly.

How much does it cost?

Because Fifo offers a broad range of financial products to a broad range of businesses, costs will vary depending on your specific requirements. Costs will be determined on factors such as the size, nature and annual turnover of your business, the security and/or value of your invoices and the amount of finance that you will require.

To submit an enquiry with Fifo and get a better idea of what costs you'll expect to pay, simply click "Go to site".

How to apply

To apply for Fifo Business Finance, click "Go to site" and submit an enquiry form. You will need:

• Your name
• Your email address
• Your phone number
• Information about the amount of finance you require

Be aware that all applicants will be required to have an active ABN or ACN in order to procure finance as Fifo is strictly a business finance provider.

Frequently asked questions

• What is Fifo Capital supply chain finance?

  Supply chain finance allows you to pay your suppliers early (or have Fifo Capital pay them) while you repay Fifo Capital over a longer period. This helps you negotiate early payment discounts with suppliers while keeping cash in your business for longer.

• Can I finance a single invoice with Fifo Capital?

  Yes, Fifo Capital is known for offering spot factoring or single invoice finance. This allows you to choose which invoices to fund without committing your entire sales ledger to the lender, providing great flexibility.

• How fast is the approval process?

  Fifo Capital prides itself on speed, often providing approvals within 24 to 48 hours. Because they have local business managers across Australia, you can often speak directly to a decision-maker.

• What industries does Fifo Capital work with?

  They work with a broad range of industries including construction, manufacturing, labour hire and wholesale. They are particularly experienced in helping businesses that have seasonal cash flow fluctuations.

Written by

Bria Horne

Writer

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Bria Horne was a writer for Finder, with a specialist knowledge of personal loans, car loans and business loans. Originally from the UK, Bria has been a professional personal finance writer in Australia for over 2 years. She has an M.A and B.A in Philosophy and Literature from the University of Sussex, and previously worked on the UK’s leading hospitality publication. See full bio