New data from OptiPay has revealed a two fold increase in enquiries, when compared to last year, in the number of businesses requesting invoice financing.
Invoice Financing (or debtor finance) is a revolving Line of Credit against unpaid invoices, to improve business cash flow, after the ATO announced it was resuming tax debt collections.
OptiPay, formerly TIM Finance, one of the major players in the industry, has seen numbers spike since the announcement was made in February.
Angus Sedgwick CEO at OptiPay says they are seeing the biggest interest coming from manufacturing and wholesale trade industries, as invoices are still taking on average 15-20 days past the due date to be paid, compounding cash flow issues.
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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.
