Earlypay business finance

Earlypay is an Australian lender that's been supporting Aussie businesses for over 20 years. It offers a range of financial products for B2B organisations of all sizes from a variety of industries. Earlypay's business loans include business lines of credit, invoice financing solutions, equipment finance and trade finance. All Earlypay products are tailored to each business's individual needs and financial circumstances.

Find out more about Earlypay's products below.

Main points to consider with a business loan from Earlypay

Earlypay is an alternative lender, not a bank. This enables it to offer loans to businesses that may struggle to acquire finance from more traditional lenders. Whether your business is just starting out or you've been established for a long time, Earlypay may be able to help. And because Earlypay's financial products are secured by your accounts receivable or your existing assets, rather than real estate, its loans offer a flexible solution for many business owners.

Find out whether or not an Earlypay loan could be right for your business.

Features and costs of Earlypay products

Earlypay offers various business financing options. Each product is outlined below, along with its corresponding features.

Invoice finance

Invoice finance can be an incredibly useful finance tool for many businesses for keeping a positive cash flow year-round. Applying for invoice finance also does not entail the long waiting times or lengthy application processes of more traditional forms of business loan.

There are two types of invoice finance, invoice discounting and invoice factoring. Earlypay offers both of these arrangements:

Equipment finance

If you're looking to purchase equipment for your business, an Earlypay equipment loan could be a solution for you.

Features and costs of an equipment loan with Earlypay

• Loan amounts. Get access to a loan from $200,000 to $500,000.
• Loan term. Repay this loan over a term from 2 to 5 years.
• Minimal financial information required. You will only be required to do a minimal amount of paperwork.
• Personalised rate. The interest rate you are allocated will depend on the financial circumstances of your business, as well as the amount of time you have been trading.
• Tailored to your business. Earlypay works closely with your business to find the best solution for you.
• Multiple assets. Earlypay loans can be used to purchase machinery, business equipment, commercial vehicles, manufacturing equipment, trucks, forklifts, earthmoving machinery and more.
• Quick funding. Once approved for a loan, your business will receive funding within one working day.

Business line of credit

Earlypay's business line of credit comes with the following features and costs:

• Security. This line of credit is secured by your outstanding invoices, rather than real estate property.
• Loan amount. $50,000 to $15 million+ funding available.
• Only pay for what you borrow. Fund invoices as and when you need to support your cash flow, and only pay for money that you borrow.
• Quick approval. Approval within 24 hours.
• Cloud accounting integration. If you use Xero, MYOB, Quickbooks or another cloud accounting system, Earlypay's business line of credit will integrate easily, saving you time on accounting.
• Payment collection service available. Depending on your preferences, the strength of your accounting department and the circumstances of your business, Earlypay offers the option of taking over the process of payment collection from your clients.
• Flexible funding. This product is available to businesses of any age.
• Interest. Rates from 7% p.a.

Trade Finance

Trade Finance gives businesses that buy products from overseas and from within Australia the ability to pay suppliers upfront, without having to spend their own working capital. Features of Earlypay's trade finance include:

• Loan amount. How much you can borrow will depend on your accounts receivable and the financial circumstances of your business.
• Security. Earlypay's trade financing is offered in conjunction with an invoice financing facility, so there is no need for real estate or asset security.
• Flexible funding. Earlypay's trade finance solutions are flexible and can be tailored to meet the specific needs of your business.
• 100% of supplier invoice paid. Get 100% of your suppliers' invoices funded.
• Loan term. Get up to 180 days of funding.
• ATO payments available. If you owe money to the ATO, Earlypay can help.
• Quick approval. Get your approval decision within 24 hours of submitting an application.
• Quick funding. Once you're approved, funds will be available to you within 24 hours.
• Import from almost any country. Earlypay offers to fund supplier costs to almost any country.
• Multiple currencies. Pay suppliers both at home and abroad and get access to a range of currencies.
• Access early payment discounts. Many suppliers offer discounts for quick payments. You can take advantage of these with a trade financing arrangement.
• Cost. The cost of Earlypay's trade finance service depends on the type and duration of the facility and the services you require.

How to apply

To apply for business financing with Earlypay, simply visit the lender's website directly and submit an application form. In order to qualify for finance, you must:

• Have an active ABN/ACN
• Be aged 18 or over
• Be an Australian citizen or permanent resident

For more information, or to compare more business loans, please visit our business loans guide.

Frequently asked questions

• What are the minimum requirements for Earlypay business finance?

  Generally, Earlypay looks for businesses that sell to other businesses (B2B) on credit terms. You typically need an active ABN, a minimum monthly turnover (often around $50k+ for invoice finance) and a trading history of at least 6-12 months.

• Is Earlypay a bank?

  No, Earlypay is a non-bank lender (fintech). This allows them to be more flexible and faster than traditional banks, often focusing on the value of your assets (invoices or equipment) rather than just your real estate equity or historical profit and loss statements.

• How does the Line of Credit facility work?

  Earlypay offers a business line of credit that can be secured against your accounts receivable (unpaid invoices). Unlike a term loan where you get a lump sum, a line of credit allows you to draw down funds as needed and only pay interest on what you use.

• Can I exit the contract early?

  Contract terms vary. Some invoice finance facilities have minimum contract periods (e.g., 12 months) or notice periods for cancellation. You should check the specific offer letter for any early termination fees or exit costs before signing.

Written by

Bria Horne

Writer

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