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How business invoice factoring can take away the hurdles of starting a new business

August 15, 2018

Business Invoice Factoring for New Businesses

One in five new businesses will fail within the first year of business. There are many reasons that a company can fail. Some are out of your control. According to ASIC report on corporate insolvencies 2016-2017, the top 3 reasons why businesses fail is inadequate cash flow, poor strategic management, and poor financial control. Don’t let this dishearten you, we have some excellent advice on how business invoice factoring can help provide adequate cash flow for your new business venture.

How does business invoice factoring work?

Invoice your clients for work fully completed or goods delivered and send Key Factors a copy. We will advance you up to 80% of the invoice value in as quick as 4 hours. Once your client pays the invoice in full, we will credit you the remaining 20% less any accrued fees.

How can business invoice factoring help my business?

By using business invoice factoring, you will be able to get immediate cash for your sales invoices. You can improve your cash flow and use it to invest in hiring more staff and buy essential equipment to expand.

Other benefits of business invoice factoring

In the early stages of running your business, it is vital to ensure your business is equipped to take on new opportunities. Business invoice factoring can help to maximize your company growth by providing the cash-flow you need to keep the wheels in motion and stay on top of operating expenses.

Key Factors business invoice factoring can increase your working capital and allow you to service larger clients by converting unpaid invoices into cash. You can be more confident in saying ‘yes’ to entering into a contract knowing you will have a more predictable cash flow to service ongoing work.

As your client base grows your staff requirements will also increase. Business invoice factoring gives you the cash readily available to pay your wages on time.

So take the pressure off and concentrate on bringing in the big clients while we take care of your business invoice factoring. Give us a call today on 1300 884 100 or contact us to find out more.

Enquire now

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What our customers are saying

  • In today’s economy, many businesses are struggling to manage their cash flow and trying to avoid getting into the cycle of you’ll get paid when we get paid. As a small business owner, the best thing has to be getting the cash into our account as we issue invoices, without having to wait 30, 45, or sometimes 60 days to get paid. We have been long standing clients and are very happy with Key Factors service. Their facility is simple to use, and the staff are always helpful.

    - Director, Timber Recycling Company, SA
  • We used Key Factors when our bankers didn’t want to know us in October 2011, as we operate in an industry that was going to be affected by the introduction of the carbon tax.

    Traditional lenders were unable to deal with the uncertainty and risks.

    Key Factors understood the risk and assisted us with our cash flow for 5 months, which was great.

    We are still keeping the facility in place just in case knowing that it’s costing us nothing to do so.

     

    - Financial Controller, Solar Manufacturing Company, WA
  • We run a charter business and our business is very seasonal.

    Key Factors smooths out the bumps in cash flow without the need of property security or minimum annual fees paid monthly.

     

    - Owner, Charter Flights Company, NT

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How does it work?

  • Invoice your clients for goods and services
  • Send a copy of your invoices to Key Factors
  • 80% of the invoice face value is made available to you within 24 hours, less a discount rate
  • The remaining 20% is provided when your customer pays, less any accrued charges
Apply now

FAQs

FAQs

How much does it cost?

We only charge a discount rate on what you use. There are no ongoing monthly charges or annual charges.

Do I need to factor all my invoices?

No, Key Factors flexibility means you are not required to submit all your invoices for funding.

What invoices can be considered for funding?

Invoices relating to business-to-business transactions can be considered, not consumer receivables. Invoices which are still within normal trading terms not... More info

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