Myth 1. Invoice finance hurts your income
The truth: Importantly, an invoice finance service fee is not an annualised interest rate. Our fee stops the day the invoice is paid. It is absolutely no different to offering your customers a small early payment discount.
Myth 2. invoice finance is only for small businesses
The truth: As long as you have reliable debtors and your invoice (or combined invoices) is worth more than $50,000, you will almost certainly qualify. Many large and successful Australian businesses use invoice finance.
Myth 3. All invoices must be sold
The truth: Unlike other providers who require you to hand over your entire debtor books for 12 months, OptiPay provides a more flexible option that allows you to finance invoices on a needs basis.
Myth 4. Invoice finance is a lender of last resort
The truth: The current thinking is that many companies use Invoice Finance in a positive way – to boost working capital and grow the company.
Myth 5: My customers will think I am going broke
The truth: It would not be uncommon if your customers are using invoice finance in 2018. Smart Australian SMEs understand invoice finance is the best way to manage cash flow shortfalls before they turn into a problem.
Myth 6: I will be locked into a long-term contract
The truth: When you work with OptiPay, there are no lock-in contracts. You choose what invoices to sell and the length of time you wish to use our services.
Myth 7: I will drown in paperwork
The truth: OptiPay web-based application is quick and easy-to-use. To launch a trade you simply upload your invoice and supporting documentation to us. It’s quick and easy and you won’t be swamped in paperwork.
How it works:
1. Register with us
Register to become an approved Seller with OptiPay online application and once approved you can commence funding with OptiPay.
2. Log in to our online platform
Upload your invoices that you would like to obtain funding against. You can lodge as many or as few as you wish.
3. Terms are set
OptiPay will confirm the discount rate and advance percentage. There are no monthly minimums and no lock in contracts.
4. Get your money
You will receive the agreed cash deposited directly to your bank account to provide the working capital you need to run your business.
MORE: Case study: Invoice finance for trade contractors
Who is OptiPay?
OptiPay, one of Australia’s leading business finance providers, has been dedicated to helping small business owners solve cash flow challenges for over a decade and has provided $1.5 billion in business funding to more than 500 Australian businesses. OptiPay specialises in modern financing solutions such as invoice factoring, invoice finance, debtor finance, and lines of credit. OptiPay’s mission is to support business growth providing liquidity in as little as 24 hours, ensuring they have access to tomorrow’s cash flow today. This rapid access to funds helps businesses maintain smooth operations and seize growth opportunities without the stress of cash flow constraints. At OptiPay, we believe that healthy cash flow is the lifeblood of any successful business. Our commitment to helping businesses overcome financial hurdles and achieve their growth ambitions has solidified our reputation as a trusted partner in the business finance sector. Whether you are looking to stabilise your cash flow, expand your operations, or navigate financial challenges, OptiPay is here to support your journey with innovative and efficient financing solutions.
