Like to know more? Q&A
Our client profile is all businesses with annual turnover greater than $500,000 depending on the cash flow or working capital facility required.
Fifo Capital has assisted over 3,000 businesses nationally, from micro business to ASX listed corporations. No matter what type of working capital or cash flow challenge you may face, we should be able to help.
Anything from $5,000 depending on your needs and type of business finance you need.
For invoice finance, you typically receive up to 90% of the invoice value up front, in cash, and the balance less our fees on payment by your customer.
For Trade or Supply Chain Finance, the amount is determined by by a combination of item which we’ll discuss with you at the time of inquiry. In all instances, businesses should have a strong credit history.
Supply Chain and Trade Finance facilities allow you to pay supplies confidentially ie undisclosed.
Invoice finance will typically require debtor notification as the customer will need to pay into our bank account. We advance up to 90% of the invoice value and pay the remaining 10% less our fees when the customer pays us in full.
For a new client, approximately 48 hours. For existing customers usually a couple of hours.
Our fees are fully disclosed to you upfront, so there is no misunderstanding or surprises. Fee amounts are dependent on our facility type, risk assessment, how long it takes to be repaid and the financial health of your business. Additional fees (if any) are documented and disclosed transparently in our letter of offer to you.
No. Fifo Capital works alongside many banks – with most of the major banks referring customers to us to provide assistance when they’re unable to extend their current lending facilities.
We only deal with businesses customers, debtors and suppliers.
Prior to the commencement of funding we will need to review a standard credit agency report, however we will always obtain your Privacy Act consent before completing any business or personal credit checks.
Fifo Capital provides a combination or one or more facilities ; limited liability companies, partnerships, sole traders and family trusts.
For invoice finance (debt factoring) facilities, the criteria we typically consider are:
– Is your customer a bona fide trading business? (We do not provide funding based on consumer debt.)
– How credit worthy is your customer?
– Has the invoiced goods or services already been provided?
– Is the invoice late or disputed? (We do not collect overdue debt.)
This happens rarely, as we do our own credit searches. However, should such a situation arise, you will be required to repurchase the unpaid invoice from us and then either collect it from the customer yourself, or hand it to a debt collection agency to collect.
No. Debt collection agencies help businesses chase overdue invoices or accounts.
Our Trade and Supply Chain facilities allow you to pay your suppliers on time or early, then extend your payment terms as you need. Many of clients have reduced their operating working capital significantly by extending their terms beyond their customer payment dates.
Supply chain finance is one of Australia’s leading debt-free finance options. Thanks to our special credit insurance we take as security, it means your finance is off balance sheet i.e. it’s not a loan per se. This means can often co-exist with other finance you may already have in place.
Yes. Our market-leading option is quite unique. We can pay both domestic and overseas suppliers. Unlike most other trade finance options, Fifo Capital will let you pay pre-shipment or deposits without the need for a letter of credit.
Fifo Capital’s clients see the opportunity to use our supply chain finance credit limit to broker better deals with suppliers using early payments as an incentive. Others are choosing to extend the payment terms out to 90 days from date of the invoice. Often this means they can get paid by their customers before they need to pay suppliers making their business run without the need for their own working capital.
Usually we’ll ask to see your current company financials including P&L, balance sheet, accounts payable and receivables, plus your ATO running balance. This is often enough to give you an idea whether we can assist your business. If we can’t, we’ll let you know immediately.
No. Fifo Capital’s Supply Chain Finance is optional for suppliers to use. If they do elect to join in the early payment option, fees only apply if they request an early invoice payment – but the choice is theirs. If they don’t, then it’s business as usual.