Marmalade invoice factoring

How does Marmalade invoice financing work?

Marmalade connects to your account-keeping software so it has access to all of your outgoing invoices. You can then choose an invoice (or several invoices) on the Marmalade software, which you would like to be paid out early.

Marmalade takes over the credit risk of the invoice and your customers then pay directly to Marmalade. There is a small fee payable, which is subtracted from the invoice payment Marmalade sends you.

It does not affect your credit score as the money is not a loan – it works as an early payment of the invoice. You can then continue to grow your business and order supplies without waiting for the payments to be made.

Pros and cons of invoice finance:

What can Marmalade's invoice financing be used for?

Marmalade invoice financing can be used for businesses that need consistent, ongoing cash flow to grow over the next year. It cannot be used for businesses that need one-off amounts of cash.

How to apply:

Click on the button to get started with Marmalade. You will then be asked to check your business against the eligibility criteria. If you are eligible, you can begin to create your Marmalade account.

Features of Marmalade's invoice financing:

• Get paid early. You can receive funds within 24 hours of selecting the invoice rather than waiting for your customers to pay.
• Access to accounts. Marmalade is connected to your account-keeping service so you can just select the invoice you want paid out early.
• No credit risk. Because Marmalade takes on the credit risk of your customer, there's no risk to your own credit.
• No chasing invoices. Marmalade will also handle chasing up your customers for any unpaid invoices.
• Online system. You can use the online interface to stay on top of your invoices and the cash that's moving through your business.
• Fees. There are no account-keeping fees or other hidden charges, but there is a fee of 3–5.5% per invoice, depending on the amount paid out.

How much does Marmalade's invoice financing cost?

There's a 3–5.5% fee per invoice, depending on the amount. This amount is subtracted from the total invoice amount and you are sent the remainder.

For instance, if the invoice amounts total $2,000 and the fee is 5.5%, you'll receive a payment of $1,890, with Marmalade retaining the 5.5% fee ($110).

Eligibility criteria:

• You must use Xero or QuickBooks for all invoices. You must have done so for the past 90 days.
• When you issue an invoice, it must be due and payable, not requiring any further customer approval.
• You must provide payment terms to your customers of up to 60 days.
• You mostly invoice Australian businesses, not individuals.
• You have more than 5 regular customers that you invoice at least monthly.
• You consistently invoice more than $50,000 per month.
• Your maximum invoice size is $50,000.
• Your customers provide timely remittance advice if they make a bulk invoice payment.
• You will use Marmalade as the only payment method on all your invoices moving forward.