Need working capital quickly for your business but don’t want to create further debt? Then you’ll love OptiPay Australia’s leading business funding provider. Don’t wait for 45 or 90 days for your clients to pay your invoices. Turn your outstanding invoices into cash within 24 hours with Debtor Finance.
Debtor finance is a smart way of getting your business the cash it needs to operate, invest and grow. All businesses have a series of regular outgoings and payment obligations, from wages and supplier bills to rent, energy costs and taxes. On top of that, they sometimes need to find money in order to invest, for example in new equipment.
No business can afford to be late on its payments, so when the bank account runs dry, many resort to borrowing the cash they need but business overdrafts and unsecured loans are expensive – especially given that your business is most likely already owed the money it needs, so why take on debt? Most businesses have tens if not hundreds of thousands of dollars tied up in unpaid invoices at any one time. Debtor Finance unlocks that money by receiving the cash from those invoices as soon as they are issued. So much money is tied up in invoices nowadays, that a trading business can often meet major finance requirements in this cost effective way.
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 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 can be less than 2% of your invoice value, 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.
Get in touch with us to find out how much money you could raise today.
OptiPay has no application fees to establish your Funding Account. So, there are no upfront fees before you receive funds from OptiPay.
It just doesn’t work that way. Only when your clients pay their invoices will you be charged a pre-agreed fee on the invoices funded. It comes straight out of the payment so you don’t need to find the cash. Think of it as giving your customers a discount for early settlement.
There are all kinds of reasons why businesses are seeking to avoid loans and bank overdrafts (assuming you get approved for a business loan) – which are restrictive, often linked to property security, and commit a borrower to long months of regular repayments. That’s why Australian business are now securing debtor finance of over $60 billion each year using their accounts receivable. Debtor finance is the smart option for Australian SMEs.
No upfront Application fees, no property security required and no hidden fees.
We’ll provide the flexibility you require in order to manage your cash flows. No long lock-in contracts either.
Don’t wait weeks or months for your money.
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:
At OptiPay, we move fast and keep bureaucracy to a minimum: you apply online, set up an easy-to-use account, and get up to 90% of your invoices paid within 24-hours of approval. You choose which invoices or debtors to submit, and securely control your financing from your computer, tablet or smartphone.
With OptiPay you are not locked into repayments on a daily, weekly, or monthly schedule. In fact, there are no repayments at all because OptiPay is not a bank or like other ‘unsecured’ cash flow lenders and does not force businesses into ongoing loan facilities with fixed repayment terms. All you pay is a low pre-agreed fee and only at the time when your client pays their invoices.
Debtor finance with OptiPay is all about flexibility. We don’t burden businesses with long contracts and long repayment schedules. Instead, our easy-to-use account gives you full control of your cash flow and funding, allowing you to pick which invoices you want to offer for financing..
With a business loan, you run the risk of losing your business and your personal assets if you can’t pay the lender back. Therefore, some SME owners worry about what will happen if an invoice they have funded through OptiPay is not paid on time. The answer is that OptiPaySecure™ steps in and protects you.Providing your business has acted within the law, OptiPaySecure™ covers up to 90% of the funding on a defaulted invoice due to debtor insolvency and can also cover the legal costs of chasing a debtor who fails to pay.
OptiPay’s debtor finance facility is not dependent on assets or credit ratings. Debtor Finance is based on your current sales, not your past, so if you are trading well and have good clients, you can raise cash even if you’ve been turned down for a business loan or overdraft.OptiPay’s debtor finance is available to every Australian business that invoices other businesses (B2B), with flexible funding facilities ranging from $100,000 to $5.0 million available.
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.
Credit management ensures a business can access financing, build strong relationships with creditors, and minimise the risk of bad debts.
Economic uncertainty is an ever-present challenge for businesses worldwide. In recent years, Australian businesses have faced a series of economic
Profitability is the lifeblood of any business, the ultimate measure of success that dictates longevity and growth. But in the
OptiPay offers several different funding solutions and services, one or more of which charges no interest and has no long lock in contract period, called the Fully Flexible funding option. Conditions, fees and charges apply to some of the Services provided, which may change, or we may introduce new ones in the future. Full details for all funding options (Services) including any fees and charges which may apply, is available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the funding agreements provided, for your selected funding solution (product/service), including all the Terms and Conditions contained in agreements provided, before proceeding. *T&Cs: Minimum 12-month invoice funding contract with OptiPay. Direct clients only, offer doesn’t apply to broker introduced clients. All standard credit terms and conditions apply including credit assessment. Not applicable to existing clients.
