OptiPay received an enquiry from a finance broker requesting a proposal to solve the following issues for their current:
Their client is a haulage and logistics business and had an existing invoice finance facility with an Australian bank.
The client had a significant number of debtors with payment terms ranging from 14 days to 45 days EOM, with the top 5 making up 80% of their total debtors ledger.
The client had recently won a new contract which as a result exceeded their debtor concentration limits imposed by their current funder. Despite numerous meetings, the funder was unwilling to increase the advance rate above 60% of ledger and 30% concentration limit by debtor.
OptiPay’s invoice finance solution allows the clients to fund 80% all of their invoices, plus:
- There is a flexible choice of debtors to fund within the ledger
- There is trade insurance (OptiPaySecure) in place to protect the client in the event that any of his debtors go into insolvency prior to them paying an invoice/s
- Assistance with the funding and payment of fuel
- 100% online with real-time account viewing and reconciliations
- No property security
- No long lock-in contract
All this as very low cost.
The broker and his client are delighted with the end result and as such have managed to secure several more contracts and continue to growth the business month on month.
If you are finding it difficult manage your business’ cash flow; whilst waiting 30-60+ days for your customers to pay their invoices then do not hesitate to contact a OptiPay funding specialist today!
OptiPay gives businesses the right tools they need to access to the cash needed to grow, at a low cost.
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.
