All too often this cash is borrowed in the form of high interest unsecured loans or an overdraft. Whereas most businesses actually already have the money – there are usually thousands of dollars tied up in unpaid invoices sitting in your Accounts Receivables (“AR”) ledger at any one time. Invoice finance unlocks that money by getting you cash upfront, instead of waiting 30 to 90+ days for an invoice to be paid, businesses can meet many of their funding needs including major investments with invoice finance.
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.
The easiest way to fund working capital needs
There is a wide array of different reasons why a small business might need access to extra incoming cash
Owing the ATO For small to medium size businesses, that trades month to month and has working capital fluctuations, it’s
As an Australian business owner, you could turn to the banks or various Fintech business loan providers for your short-term
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.
