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Receivables Finance


Receivables Finance helps to provide working capital, secured by your trade receivables.

It is designed for businesses that would like to improve cash flow by converting money that is owed to them into cash. To be eligible your annual or projected annual turnover must exceed $2 million.

How Can it Help You?

  • You can save money by negotiating discounts from suppliers in return for making early payments
  • You may get an immediate injection of working capital to help increase growth of the business

Details


Agreed prepayment of invoices

Receive up to 80% of the face value of invoices within 24 hours of any invoice that the bank purchases. Receive the balance (less fees) when the debt is paid

Activity-based service fee

You pay a service fee based on the level of the bank's involvement in the prepayment and collection of trade debts. A Discount Charge (like interest) is charged on the funds used

Property security not needed

No 'bricks and mortar security' is required in most cases. the product involves financing the business through its assets

Only one month's notice required to terminate

Unlike some competitors, there are no long-term contracts entered

Undisclosed

Debtors remain unaware of the bank's involvement

Term

Repayable on demand and subject to annual review

Security

A first ranking Registered Company Charge (R/C/C) is required, together with guarantees limited to the total exposure of the bank of parties who have an interest in the business



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