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How to maintain successful business finance with factoring

June 27, 2018

Business finance

Running your own business can be challenging and if you don’t have the right tools or enough business finance to help fund operations, the stress can take a hefty toll on your health and wellbeing along with your company success.

One of the main reasons many businesses fail is poor cash flow. This is unfortunate as it is an easy problem to solve if you have the right knowledge and take advantage of different funding options. Here we will provide you with some valuable information on factoring, a flexible business finance alternative.

A great way you can maintain your business finance is to use factoring to get instant cash upfront by financing your accounts receivable.

How does factoring work with Key Factors?

Improve your business cash flow in 3 simple steps:

  1. Invoice your clients and send us a copy.
  2. We transfer up to 80% of the invoice value to your nominated account in as quick as 4 hours.
  3. The remaining 20% is credited to you when your client pays us.

By getting the cash upfront you can eliminate the stress of the waiting for clients to pay in 30, 60 or even 90 days. BCashflow Positive factoring service also provide account management and follow up of your outstanding accounts at no extra cost. This gives you peace of mind allowing you to focus on doing what you do best which is growing your business.

Factoring allows you to pay your staff on time, instead of having to try and get a business loan from a bank which can take weeks or even months.

You can use factoring to pay ATO bills, office costs, rent, supplier costs and any other expenses you may have in your business.  It’s also a good idea to use invoice factoring for those unexpected expenses that pop up from time to time or when your business is experiencing rapid growth and require additional working capital.

If you would like to know more details about how you can use a flexible business finance option like factoring to improve your cash flow, complete our quick contact form or call 1300 884 100 to speak to one of our factoring experts.

Enquire now

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What our customers are saying

  • We had been with Key Factors for 3 years & 8 months when a broker convinced us to switch to another company. We didn’t read the fine print and were hit with annual fees, and constant audits which wasted a lot of our staff’s time. When we wanted to leave go back to Key Factors, we had to serve 12 months and another 3 months notice period, or were going to be hit with exit penalties. We had none of this at Key Factors, just simple factoring.

    - Director, Manufacturing Company, Mining, WA
  • Having Key Factors operating in the centre of Perth WA allows us to forward invoices any time before 2pm, knowing that they will be processed that day.

     

    - Company Accountant, Recruitment Company, QLD
  • Our growth combined with Key Factors’ Flexible $2.2M Cash Flow Facility, was the perfect partnership to see us through an exciting phase of our business. The arrangement requires no long-term contracts, no need for director’s homes to be used as security, and we could pick & choose what invoices we wanted to release cash flow from.

    - Financial Controller, Energy Sector, VIC

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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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