Receivables Finance

Need to accelerate your working capital cash flow? Receivables Finance gives you quick access to the proceeds of your approved credit sales.

The facility provides your business with up to 80 per cent of the face value of invoices within 24 hours, and the remainder after your customers settle their accounts.

Features

• Created for the financing needs of well-managed and financially sound businesses with a turnover of $2 million or more
• The facility is fully confidential so your customers will be unaware of our involvement
• Invoices are financed at up to 80 per cent of face value, with funds made available within 24 hours of invoice submission
• All existing collection and customer relationship functions are retained by your business
• Customers continue to make payments directly to you, for lodgement into a special account set up by us
• All credit sales are to be offered for funding

Benefits

• By accelerating your cash flow, you will receive payments sooner and be able to make more efficient use of available working capital
• You can potentially access supplier discounts for early payment, often generating significant profits
• Receivables Financing removes the need to offer customers early settlement discounts for payments
• Funding is provided without tying up real estate or other fixed assets as security, allowing them to be used for other purposes

What does it cost?
A service fee is charged based on the face value of invoices offered. A discount charge is also payable, calculated daily on the level of funds drawn. An Establishment Fee is payable on acceptance of the Banks offer. We offer competitive rates that are individually tailored to your business.

• Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the loan offer. Bank fees and charges may apply.