FundX Invoice Financing

Get up to 100% of your invoices financed. Terms are 3 months and costs depend on your invoice and business profile.

  • Please note that FundX is no longer in operation. The information on this page has been kept for the benefit of those who are interested and historical records only. You can compare other invoice financing options.

Invoice factoring allows you to unlock the capital that's tied up in your unpaid invoices by borrowing money that is secured against the value of your invoices. FundX allows you to borrow up to the full value of your invoices, with a minimum value of $1000 per invoice. Approvals are quick and no security, apart from your invoices, are required. There are no upfront fees or penalties for early repayment, but you will be charged an advance rate starting from 2%. This rate will vary based on your invoice and business profile.

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How does invoice financing with FundX work?

FundX invoice factoring loans are repaid over a period of three months in 12 weekly installments. This includes an advance rate starting at 2%. Invoices submitted must be for a minimum value of $1,000. FundX charges no upfront fees and won't penalise borrowers for settling the balance before the end of the loan period.

Here's how the process works:

  • Open a FundX account online and indicate which accounting app your business uses
  • Upload the invoice(s) against which you'd like to borrow
  • If approved, FundX sends 100% of the invoice value to your account
  • You repay the loan over a period of three months in 12 weekly repayments. No fees are charged for early repayment

What features does FundX offer?

Here are some of the features of FundX invoice factoring business loans:

  • No upfront fees. You will not be charged any upfront or administration fees. An advance rate starting at 2% applies for this loan.
  • Quick delivery. Loans are approved within 24 hours of application.
  • No security required. You don't have to provide property or other assets as collateral for this loan.
  • Flexible repayment terms. You can make weekly repayments over the three-month period, or choose to settle the outstanding amount earlier without being penalised.
  • 100% of invoice value granted. FundX will lend the full value of your invoice.
  • No contact with your customers. FundX doesn't get in touch with your customers at all. This way your customers maintain confidence and trust in your business.
  • Minimum value. Invoices must be valued at least $1,000 to be considered for approval.

How much does FundX's invoice financing cost?

FundX charges no upfront fees and no penalties for early repayment.

You will be charged an advance rate starting at 2%. This rate varies depending on your invoice and business profile.

If you default on your loan payments, the advance rate increases to cover the cost of any administrative adjustments FundX may need to make.

How to apply for FundX invoice factoring

The application process is carried out online and you can upload invoices directly through the website. FundX requires access to your accounting application. If you don't use a cloud accounting system, you'll have to send FundX hard copies of your bank statements and ownership information.

Businesses must meet the following criteria:

  • Be an Australian registered business
  • Have an annual turnover of at least $100,000
  • Have been operating for at least six months
  • Company directors must have reasonably good credit history

Once approved, money will be deposited in the nominated account within 24 hours.

Invoice factoring can mean the difference between growing your business and developing a reputation for not being able to fill orders. It can be a way to plug a financial hole without missing a beat, but it's always a good idea to compare lenders to make sure the product is right for your business.

Compare a range of invoice finance options

Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
Waddle Invoice Finance
$10,000
$4,000,000
From 1 month
$0
Apply to borrow up to $4 million against your unpaid invoices and receive your approved funds within 48 hours.
Timelio Invoice Finance
$10,000
$100,000,000
Up to 4 months
$0
Get up to 100% of the value of your invoices without having to wait for customer payments, and with no minimum turnover or operating history required.
ScotPac Invoice Finance
$10,000
$150,000,000
From 1 year
No set amount
Improve your business cash flow by financing your outstanding invoices. No minimum trading history required, but minimum 12 - month term and $10,000 in invoices.
ScotPac Selective Invoice Finance
$10,000
$1,000,000
1 to 3 months
$500
Finance your unpaid invoices on demand with terms of 1 - 3 months. 95% of invoice is paid upfront, with no minimum trading history required.
Earlypay Invoice Finance
$50,000
$15,000,000
From 1 month
No set amount
Access a revolving line of credit that grows in line with your accounts receivable. Funding available from $50,000 to $15,000,000+.
Octet Invoice Finance
$100,000
$10,000,000
1 month to 2 years
No Set Amount
Convert up to 85% of your company's receivables into cash flow. The value of your receivables need to be worth at least $250,000 to be eligible.
Earlypay Trade Finance
$20,000
$15,000,000
1 month to 15 years
No set amount
Get finance for 100% of your outstanding supplier invoices. Borrow from $20,000 to $15,000,000 with Earlypay.
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