Invoice Factoring Services For Small Businesses

What is Invoice Factoring?

Invoice factoring also is a form of invoice financing. In invoice factoring a business gives control of a part or their entire accounts receivables ledger to the lender, wherein the responsibility to collect the debt is passed on to them. Businesses commonly use it to replenish the cash reserves that are suffering from depletion due to too many pending invoices. You can receive an advance of up to 90% in funds against the receivable ledger.

Broc Finance helps you by facilitating invoice factoring, connecting you with a credible lender. We enable you to secure a line of credit against the accounts receivable, by connecting you with credible finance companies.

What you should know about Invoice Factoring

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Salient Features of Invoice Factoring

Invoice factoring carries the following traits that make it easy for businesses to secure funding.

Offers flexible business financing options to enterprises or companies of all sizes and stature.
Easy to get approval even with ATO debt, poor credit history, and short span of trading.
Does not require a real estate security or collateral against the financing.
Invoice factoring funds scale along with the business.
Funding is possible within 24 hours of approval, especially when collaborating with Broc Finance.

Difference between Invoice Discounting & Invoice Factoring

Invoice Discounting

The business uses its outstanding accounts receivable as security or collateral to secure funding.

The control and responsibility to collect debtors lies with the business.

You can receive up to 95% of the invoice value.

Collection risk remains within the business.

You cannot opt for non-recourse factoring.

Invoice Factoring

The business sells its accounts receivable to a finance company. Instead of the in-house debt management team, it’s the invoice financing company that chases the pending invoices.

The control and responsibility to collect debtors lies with the factoring company.

You can receive up to 90% of the invoice value.

Collection risk is passed on to the factoring company.

What Businesses can benefit from Invoice Factoring?

Invoice factoring is suitable for SMEs, which are seeking growth or already scaling their development but need urgent funding to stay on the growth track. The following types of businesses can reap the benefits of sourcing invoice factoring.

Limited Companies
Single traders
Start-ups
Joint ventures

If we have to point out industries that mostly opt for invoice factoring, then those will be:

Wholesalers
Traders
Manufacturing
Transport and Distribution
Staffing/Labour Hire
Engineering

Most SMEs do not have the infrastructure support to chase the pending invoice collections. A significant percentage of accounts receivable can create a financial deficit, thus disrupting the regular business and long-term growth. These hurdles can either stunt the growth or make it sluggish, which every business owner wants to avoid.

That’s where an invoice factoring comes to their rescue. With the outstanding invoice collections being taken care of, the business owner can focus on the core processes of the organization. It enhances performance and productivity.

Broc Finance offers you complete support in facilitating invoice factoring for you from reliable and credible financial players in Australia.

Why should you choose Broc Finance?

In a short tenure, Broc Finance has helped Australian businesses, especially the SMEs to secure diverse financing options and facilitate the same via credible lenders. We have a robust network that comprises the top lenders in the country. Our accessibility to varied business loans makes it easy for businesses to get the kind of financing that’s best suited for them.

Tailor made options

Being a small business owner, many of our clients are not sure of right loan product for their businesses. Our lending specialists understand their needs and recommend tailor made options.

Personal Consultation

Unlike business loan marketplace websites which use AI based algorithms to match your requirements, we provide obligation free personal consultation as every business is different and an AI based algorithm may not provide them the optimum solution.

Competitive Pricing

We endeavour to achieve the optimum business loan solution for our clients at the most competitive pricing possible.

Clear communication

We understand the essence of time so don’t believe in wasting our customers time by giving false hopes. Transparent and clear communication is in our DNA.

Real results with real people.

55+ customer reviews

5.0

Niteesha Nagowah

We had an incredible experience working with Saroj from Broc Finance. He is incredibly knowledgeable, responsive, and guided us through the purchase of our company vehicle with expertise. The attention to detail and commitment to finding the best possible options truly set him apart. Highly recommend his services for anyone navigating the complexities of obtaining a finance. Thank you again for outstanding assistance.

Manpreet Kaur

Our sincere thanks to Saroj ji & his team for their invaluable assistance in securing the loan. We are extremely greatful for his exceptional service & support throughout the process. Highly recommend!

Matthew

Broc Finance were awesome…really responsive and solutions focussed. We especially appreciated having a broker who was an advocate for our interests when engaging with lenders.

Ibrahim Alpay

Saroj and his team is amazing have been using him for business funding for over a year he has found surprising solutions when others couldn’t make it happen very skill full with negotiating high loan amounts that I would never expect at wonderful terms and rates look no further I recommend broc finance for your business lending purposes look no further and don’t think twice much appreciated won’t go to any other broker at all many thanks to his team !!!!!!

vishal srivastava

We have used Broc Finance over last 2 years for various business line of credits and vehicle loan. Broc finance have been very professional in this journey. They have understood our needs as business and catered the solutions as per requirement . They look around in market and get one the best financial solution for the business be at vehicle of line of credits . I would strongly recommend the business for there services

Nasir sabiry

Thank you very much in helping me with financing a car SAS. You have been very professional and responsive every time I needed information. Fully recommend to any looking to finance a car.

Ajay Kanumuri

I would strongly recommend. Saroj Shah helped to get my loan with in span of three days. He was very supportive and clearly explained the loan process.

Scott Filby

Excellent experience with the service of Saroj! He did all the hard work and helped me find what I required. Saroj offered excellent suggestions and went the extra mile with his advice, which won my respect and helped in achieving the outcome required.

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Frequently asked questions

Debt factoring is more like a business transaction than a traditional form of financing. You are selling your invoices to another company that will handle the chasing and the collection. It does not follow the usual rules of a business loan. It helps businesses to secure funding and liquidate its receivables ledger.

You need the following documents to prove your eligibility for debt factoring.

An active ACN or ABN.
Pending invoices with other businesses in Australia.
Invoice proof of the delivered services or goods.

Unlike invoice financing, where there is a choice between confidentiality and disclosure, in factoring, your customers will know about the transaction. It’s because you are selling your invoices to a third-party factoring company.

Generally, the approval process may take between 3-7 days, and you can have get funded within 24 hours of approval.

Invoice discounting is all about the beneficial aspects of business financing. The only con that it has is that this is not suitable for all businesses specially B2C businesses.