Invoice Factoring
Need help with your cash flow but are fed up with the painful finance negotiations? Hate going cap in hand to the bank or can’t stand being locked into unfair finance contracts? Then you’ll love OptiPay Australia’s leading flexible business funding provider. Get immediate cash for your business from $100,000 to $5,000,000.
What is Invoice Factoring?
Invoice Factoring is a type of debtor/invoice finance in which a business sells its accounts receivables ledger (invoices) to a third party (in this instance OptiPay) in return for receiving up to 90% of the invoice values in cash, with the balance to be received when your debtor pays (as per their normal 30 to 60+ days trading terms).
The True Difference Between Factoring and Invoice Discounting
Strictly speaking, the difference between Factoring and Invoice Discounting lies in who takes control of your account receivables ledger and responsibility for collecting the monies from your debtors.
With Factoring, the provider of the upfront funds takes the role of managing your
account receivables ledger, credit control and chasing customers for settlement of their invoices.
OptiPay does not do this.
With Invoice Discounting, provided by OptiPay your business retains full control of its own debtors ledger and you collect payment in the usual way.
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Note: OptiPay funding solutions are only suitable for businesses with annual revenues of $1m+ per annum.
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Benefits of Factoring
and Invoice Discounting
- Releasing up to 90% of the value of your outstanding invoices within 24 hours of approval
- Funding can be secured without requiring other assets Cash is freed up to overcome cash flow problems or grow the business
- The level of funding available increases with your turnover
- By receiving up to 90% of your cash, you are able to pay supplier
- Invoices promptly which increases your power to negotiate discounts
- In regards to Invoice Discounting, you attain the advantage of managing your own credit control and debt collection. Hence you are in complete control.
Likewise, Factoring and Invoice
Discounting are useful options for:
- For small and medium size businesses that need working capital to keep growing
- Businesses with annual revenue of at least $1.0 million and who have at least 4 regular paying customers
- For businesses that are coming out of a tough trading environment that need cash today to bridge the gap between invoicing customers and getting paid
- Seasonal cash flow fluctuations
Who uses Factoring and Invoice Discounting?
- Engineering
- Recruitment
- Transport & Distribution
- Manufacturing
- Wholesalers
- Printers
- Cleaning, Maintenance and Landscaping companies
- Numerous Other Industries
OptiPay Funding Process
Quick same-day setup
- No application or set-up fees
- No long lock-in contracts
- No property security required
Select your invoices and upload
- Choose only the invoices you want funded
- No fees as you add more debtors
Due diligence
- OptiPay checks the credit rating of your debtors and verifies each invoice
- Open and honest appraisals
Access up to 90% of your cash up front
- Get up to 90% of your invoices paid to you without any hold backs or fees
- Get your money within just 24 hours of approval
Access balance of cash
- The more you cash-flow with OptiPay, the lower the discount fee can become
- The balance due on your invoices are paid to you when your client pays their invoice, less a pre-agreed discount rate
- OptiPay is paid when you are paid and not before
OptiPay’s offering
At OptiPay, our invoice discounting solutions allow your business to get an advance against your accounts receivables ledger – either on a selective or whole ledger basis.
It’s quick and easy to access funds, which means you can get the cash flow you need to get on with business.
With OptiPay you get:
- Fast funding: quick funding decisions and set-up
- Hassle free experience: easy to use
- Help in real-time: personal customer support
- Straightforward costs: no upfront costs and no hidden fees
OptiPay Platform Integrations
