How Invoice Factoring Can Help Your Business Grow
July 24, 2017
Have you considered invoice factoring? It might be a faster and easier option than obtaining a business loan through your bank. Here is how invoice factoring works:
- You invoice your customers for goods or services.
- You send a copy of your invoice to a factor (like Key Factors).
- The factor then gives you up to 80% of the value of the invoice.
- The remaining 20% of the invoice is credited to you as soon as the customer pays, less any accrued fees.
How Can Invoice Factoring Help Your Business?
Many businesses have benefitted from using invoice factoring to improve their cash flow. Some benefits include:
- Improve business cash flow
- Get on top of ATO obligations
- Pay wages on time and meet operating expenses
- Working capital for start ups
- Cover the gap of slow payments
Why Choose Key Factors for Invoice Factoring
- Fast 48 hours approval
A response is normally provided within 24 to 48 hours of receiving your application.
- Flexible terms
No lock-in contracts and no minimum usage level. You can also choose what invoices you want factored.
- Only pay for what you use
Our flat daily fee is only charged on the invoices you factor and there is no monthly admin fee. If you don’t factor any invoices, then it doesn’t cost you any thing.
- Grow your business faster
Invoice factoring can cover the gap of slow payments. Convert your invoices in to cash in as quick as 24 hours and don’t let slow payments hold your business back.
Speak with an invoice factoring expert at Key Factors on 1300 884 100 to find a factoring solution to fit your needs.