debtor factoring

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How I’ve helped and thoughts from the desk

What levels can you fund to?

Anything from $5,000 to $500,000, depending on your needs and the kind of short-term business finance you opt for.

– 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 the debtor.

– For Business Loans, the amount is determined by how much you can afford to repay within the time frame.

– For Customer Payment, finance is handled on a case-by-case basis.

How long will it take before we receive the funds?

For a new invoice finance facility, our credit approval can take as little as 24 hours from receipt of your completed application. After this, approved funds may be receive within 4 hours. Please refer to our full terms and conditions for funding transfer timing.

How much will it cost?

We offer a significant cost advantage – and transparency.

For invoice finance we charge a small early-payment fee which is applied to the invoice you offer us, based on when we are likely to be repaid and on your business needs.

For trade or supply chain finance the fees depend upon whether you extend your terms only, or, whether you’re offering your suppliers an early payment option.

Our fees for all of our facilities are presented to you up front so you will know exactly how much our service costs before proceeding.

Do you run credit checks?

On occasion we may need to run a credit check when approving your registration. However, we will always notify you first before running the check.

Will my business qualify for Fifo Capital finance?

If your business has an Australian Business Number (ABN) and you are already selling or buying products or services to/from other Australian businesses on credit terms, eg, payment in 30-60 days, then YES, you can use our services, subject to our credit assessment.

How I’ve helped and thoughts from the desk

What if our business has already borrowed from a bank?

This is fine – you do not need to refinance any current banking or finance arrangements.

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.

If we use your services, will our customers think differently of us?

No. If you are new to alternative business finance you may not be aware of the already large and growing number of businesses using this type of finance as part of their usual business trading. It is simply an additional, highly flexible finance option that many businesses now incorporate in their business model.

What if my customer goes ‘under’?

Where payment has not occurred due to your customer (the debtor) becoming insolvent, our unique debtor insurance option can protect you in this instance. Give us a call to find out more.

How do you assess new customers?

We adherence to Australian privacy principles and are open about our assessment program. Our assessment process is quick and efficient, and includes checks for credit record, fraud, lodged security registrations, sales terms and conditions, and more. Invoices offered to us need to be issued directly to a business customer rather than to consumers.