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How Invoice Factoring Can Help Your Business Grow

July 24, 2017

Invoice Factoring

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:

  1. You invoice your customers for goods or services.
  2. You send a copy of your invoice to a factor (like Key Factors).
  3. The factor then gives you up to 80% of the value of the invoice.
  4. 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

  1. Fast 48 hours approval

A response is normally provided within 24 to 48 hours of receiving your application.

  1. Flexible terms

No lock-in contracts and no minimum usage level. You can also choose what invoices you want factored.

  1. 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.

  1. 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.

Enquire now

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What our customers are saying

  • Our business was going through a tough patch and our existing factoring company weren’t going to see us through it. We engaged Key Factors just in time to clear all our ATO debts and sell off some of our non-performing subsidiaries. The decision to move across to Key Factors was vital to ensure the on-going concern of our company.  We also find the flexibility of no long-term contracts & the ability to use our facility on a selective basis quite appealing.

    - Company Secretary, Publicly Listed IT Software Company, NSW
  • 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
  • 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

More FAQs