Octet Invoice Finance
Borrow up to 85% of your unpaid invoices ahead of client payment and bolster your business's cash flow with Octet.
Help your business to grow with an invoice finance facility from Octet. Invoice finance, also known as debtor finance or accounts receivable finance, allows you to borrow money using your unpaid invoices as collateral. In addition to this Octet’s state-of-the-art Supply Chain Management platform makes tracking, validating and authorising every step of your supply chain transaction process, quick and easy.
Usually customers take around 60 days to settle invoices. However, with Octet you can access the capital from your outstanding invoices within 24 hours of issuing the invoice.
3 things to know about this finance product:
- Secured against your accounts receivable
- Fund up to 85% of invoice amount
- Confidential and disclosed arrangements available
How does Octet Invoice Finance work?
Octet is a non-bank lender providing invoice finance to businesses Australia-wide. Invoice finance allows businesses to unlock the capital tied up in their unpaid invoices ahead of client payment. Some debtors take around 60 days to settle an invoice, which can be damaging to your cash flow. With Octet Invoice Finance, you can get your accounts receivable funded within 24 hours.
If your business invoices customers for goods or services provided, and you meet Octet's eligibility criteria, you can apply for invoice finance. If approved, simply invoice your customers as you normally would, upload your invoice(s) to the Octet Platform, and draw down as much (up to 85%) or as little as you want of the invoiced amount. When your customer settles an invoice, they deposit the funds into a nominated bank account that Octet manages in your business's name. When payment has cleared, Octet will forward the remaining funds – minus any fees – onto you.
Features of Octet Invoice Finance
Octet Invoice Finance offers the following features:
- Loan amount. 85% of approved invoices. The exact loan amount will depend on the value of your unpaid invoice.
- No repayments. Because your loan is settled when your customer pays the invoice, you do not have to make repayments on this loan.
- Secured by your invoices. You do not need real estate or physical assets to secure this loan.
- Quick application. The online application takes only a few minutes to complete.
- Quick funding. Once you have uploaded your invoices, you can get access to your funds within 24 hours.
- Finance grows with your accounts receivable. The greater the value of your invoices, the greater access you have to funding.
- Disclosed or undisclosed. Whether your clients will be made aware that you are using an invoice financing facility will depend on the financial circumstances and credit rating of your business.
- Transparent fees. Octet has transparent fixed-rate fees for all of its customers.
How much does the loan cost?
Octet's invoice financing fees will be outlined in your loan contract. Please visit the lender directly for more details.
How to apply for Octet Invoice Finance
To apply, simply click "Go to site" to visit the lender's website directly. There, you can submit a quick application and start uploading your business's invoices.
To qualify for Octet Invoice Finance, your business must:
- Be in an industry that provides proof of debt
- Have more than one business-to-business client on your receivables ledger
- Have an annual turnover of at least $500,000
- Have 1-2 years of business experience
Before you submit an application, it's a good idea to compare your invoice finance business loan options to ensure that you are getting the best deal possible for your circumstances.