Menu
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.
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.
If we have to point out industries that mostly opt for invoice factoring, then those will be:
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.
Borrowers often confuse invoice factoring with invoice discounting. Although both fall under invoice financing, they are slightly different. Let’s compare both to clear your confusion.
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. The following approach makes us stand out from our competitors:
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.
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.
Contact us today and discover how our expertise can help your small business thrive.
CALL US
1300 253 041
EMAIL US
enquiries@brocfinance.com.au
Broc Financial Services Pvt Ltd.
ACN 648 088 304
Credit Representative number 540795 is Authorised under Australian Credit Licence Number 389328