As soon as you’re approved, you can upload some of your invoices or your entire Accounts Receivables ledger and you will receive the funds on the same day or within 24 hours of invoice verification. To get started, simply complete the online application form provided on our website. It will only take a few seconds and won’t affect your credit rating.
OptiPay charges no upfront application fees to set up an account, nor does OptiPay charge weekly or monthly interest and principal repayment fees like a traditional unsecured business loan. All you pay is a small percentage of the invoice value funded (called a discount fee) and only when your debtors pay their invoices. What this means is that you make no ongoing interest repayments at all. The actual discount fee charged varies based on the size and value of the business and the debtors being funded, suffice to say that it usually works out cheaper than taking out an unsecured business loan or even an unsecured overdraft facility. Yes, that’s correct – simple and fair.
OptiPay’s cash flow funding solutions DO NOT require property security as collateral. We use your Accounts Receivables ledger as collateral. The larger your ledger, the more funds we will advance you with no other physical security.
Typically, you receive up to 90% of your invoice/s value up front, in cash. You then receive the balance of the invoice/s, less the OptiPay agreed discount fee when your debtor/s pay your invoice/s.
You can access as much as 90% of your total accounts receivable ledger, at any given time. Get in touch with us to find out how much money you could raise today.
With OptiPay, there aren’t any. Not only is establishing a Funding Account completely free, there are no upfront fees on the process of getting cash. What’s more, invoice discounting is not a loan, so there are no interest repayments to be made.
You choose which invoices to fund with OptiPay and OptiPay will deduct a small discount fee only when your client pays their invoices, which credits your funding account allowing you to redraw to your approved Facility Limit for the new invoices you raise. You never need to worry about finding the money to repay the funding or the fee. OptiPay really is that simple and fair.
It’s the flexible, fair way to meet your business funding needs.
Australian businesses traditionally relied on loans and bank overdrafts for their funding. This meant that they were forced to sign up to years of interest rates and repayments even when they only needed to cover a gap in their cash flow. No wonder that Australian businesses have embraced invoice discounting to the tune of $60 billion a year. Australian SMEs who use invoice discounting are getting a far better and fairer deal.
We’ve arranged funding for clients against multiple debtors and on more than 22,000 invoices, now approaching three quarters of a billion dollars to Australian businesses.
The benefits of working with OptiPay include:
This is Paul, he is one of the directors of UVS, a labour-hire provider to the construction industry. Here’s what he has to say about how OptiPay was able to help his business grow and succeed. Contact an OptiPay expert today to see how we can help you.