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Invoice finance is a useful business financing tool because it allows business owners to unlock useful capital tied up in their invoices. Simply submit your invoices to an invoice finance provider such as Key Factors, and the company will loan you up to 80% of any verified invoices ahead of payment.
Key Factors is the largest independently owned factoring company in Australia, and it has been providing invoice finance to Aussie businesses for over 30 years. Unlike online-only invoice financing companies, Key Factors also has a number of offices Australia-wide.
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To apply for Key Factors finance, your business must be a B2B industry that makes sales on credit terms (i.e. invoices for goods or services received). Companies that partner with Key Factors have a turnover between $500,000 and $3 million. Key Factors will assess your business credentials in order to evaluate how eligible you are for finance, and approval will take up to 48 hours, but you could get funding in as little as 4 hours.
If you would like to find out whether you qualify for finance from Key Factors, simply submit your name and business data via its website or visit one of its branches in either Sydney, Perth, Melbourne or Brisbane.
There are a number of features and benefits to using Key Factors as your invoice finance provider:
'Invoice discounting' is another term for invoice financing: borrowers are allowed to borrow a discounted amount of cash upfront (usually 70%-90%) in exchange for the value of their invoice. A 'discount fee' works in the same way as bank interest. It is the cost calculated upon the percentage of their invoice value that is charged for the lending service.
A 'discount fee' is used as an alternative to p.a. interest rates for many invoice finance providers, as these providers usually offer shorter term loans than other lenders, and the value of these loans are specifically dictated by borrower invoice values. This therefore often requires a more tailored approach to pricing.
Once a discount fee is deducted from the remaining percentage of an invoice, the borrower is transferred the remainder of the invoice balance.
To apply for Key Factors Selective Invoice Finance, simply click the "Go to Site" button to access the company's website. Before applying, please consider whether you meet the following criteria. You have to:
A member of the Key Factors team will be in contact with you within 48-hours. Funding takes as little as 4-hours, subject to approval.