Single Invoice Finance
Get up to 80% of your unpaid invoices financed with terms up to 60 days or less. A charge of 3 to 5% the value of the invoice applies.
Invoice finance allows companies to unlock working capital tied up in their unpaid invoices. This form of finance does not require an asset as security, as the loan is secured against your unpaid invoices. You can get up to 80% of your unpaid invoices financed, ranging from $10,000 and upwards. You can only get funding for invoices with terms of 60 days or less, and bad credit funding is available. While they don’t have establishment, monthly or interest charges, they will charge between 3 to 5% of the value of the invoice from the remaining 20% of the invoice value. The balance is forwarded to you when the client pays.
3 to 5%
|Product Name||Single Invoice Finance|
|Max. Loan Amount||No maximum amount|
|Upfront Fee||3 to 5%|
Main points to consider with Single Invoice Finance
Single Invoice Finance is an Australian invoice finance provider that funds up to 80% of your invoices ahead of client payment. Single Invoice Finance essentially buys your invoices from you for the invoice's value minus a discount fee. This means there are no interest rates, no monthly repayments and no ongoing costs. Single Invoice Finance simply takes its fee from the remaining 20% of the invoice value and forwards the remainder to you when your client pays their debt.
With Single Invoice Finance, there's usually no need to use your valuable assets or put your family home on the line – all finance is backed by your invoices. Single Invoice Finance also considers businesses with less than perfect credit records and startups because the strength of your paying customers is more important to them than your company's track record.
Features on offer with Single Invoice Finance
The following are some of the beneficial features of Single Invoice Finance's financial services:
- No lock-in contracts. Get funding for what you need, when you need it, with no commitments.
- Single or multiple invoice financing. Fund one invoice for a single cash injection or regularly fund your invoices for a steady cash flow.
- Competitive rates. Get a competitive rate with Single Invoice Finance. Invoice Finance can work out to be cheaper than other forms of short-term finance.
- Funding within two hours. Once approved, your first invoice will be funded within 24 hours, but existing customers can get funded in as little as 2 hours.
- 60-day invoice maximum. You can only get funding for invoices with terms of 60 days or less.
- No minimum turnover required. Most invoice financing companies require an annual minimum turnover in order to qualify for their financing. Single Invoice Finance does not demand a minimum, and eligibility will be determined on a case-by-case basis.
- Other short term loans available. Single Invoice Finance offers some other financial products aside from invoice finance. For more information, you'll have to speak to them directly.
- Bad credit funding available. All customers are considered on a case-by-case basis. If you have bad credit, you might still qualify for finance.
Fees and charges
- 3-5% fee. Single Invoice Finance typically charges between 3% and 5% of the value of the invoice as a fee.
- No application fees. Pay nothing when you sign up.
- No ongoing fees. Only pay for what you borrow.
Please note: Sometimes customers fail to pay. If this is because of insolvency on their part, Single Invoice Finance insures its funds against this (incurring a 1% invoice value charge) and you will not be held responsible. If, however, your customer has a dispute in regards to the product or service provided and refuses payment, the responsibility to repay falls on your business, either in the form of a replacement invoice or an upfront payment.
How to apply
To apply for invoice financing with Single Invoice Finance, simply click "Go to Site" and submit an inquiry, email or call them directly. A representative will get back to you ASAP to discuss your business in further detail.
You will need to provide the following information:
- Your name
- Your email
- Your phone number
Please note that Single Invoice Finance only provides finance to Australian businesses, so you will have to have an active ABN/ACN in order to qualify for finance.