Invoice Finance

You’ve done the hard work, now have access to the money. Get a line of credit against your unpaid invoices.

Grow Invoice Finance assists your business maximise it’s potential. Use your unpaid invoices to grow your business, pay suppliers, the tax office, wages or to pay yourself dividends. Get a flexible line of credit on your unpaid invoices.

Invoice Finance, also known as Debtor Finance, can help your business with effective short-term cashflow management and is a stress-free solution for managing cash flow for your business.

Benefits of our Invoice Finance

Our competitive advantage sets us apart from the rest for debtor finance:

  • Same day invoice funding
  • Our online portal allows you to draw down with ease
  • Lock in funding for a contract period to secure your ongoing cash flow or choose no contract if it suits your business
  • Get 100% of your invoice value paid less our agreed fees
  • Facilities up to $2,500,000
  • Buy stock in bulk to increase margins
  • Offer payment terms to your customers to increase sales
  • Only pay interest on the funds you use
  • Bring supplier payments, including the ATO, up to date and then pay on time, every time
  • No property security required
  • Revolving facility – draw down as required
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Interest Rate

From 6.50%1
per annum

Am I Eligible?

Approval requirements for invoice funding are:

  1. Outstanding unpaid invoices
  2. ABN/GST registration for at least 12 months
  3. Reasonable credit history
  4. Minimum $35,000 in monthly sales

How does Invoice Finance Work?

Invoice Finance is a product where businesses sell their invoices to a third party for funding. This facility is useful for businesses whose growth is hindered by slow repayments of invoices.

There are two main forms of invoice finance, and they are:

  1. Invoice Factoring – where financiers purchase the unpaid invoice outright and take responsibility for collecting payment in partnership with the seller or outright if more appropriate;
  2. Invoice Discounting – a secured loan against your outstanding invoices

Whichever type of invoice financing you decide on, generally the following steps apply:

  1. Invoice the customer
    ‍After your customer receives their goods and/or service, the business will invoice them with the amount owed and date payable.
  2. Seller enters into an arrangement with their finance provider
    ‍The business cannot wait for the customer to pay, so they decide to sell the invoice to a financier.
  3. Access your funds sooner
    The finance provider then accepts the transaction and depending on which type of finance is being taken out, either purchases the invoice or provides the business with a cash advancement of approximately 70- 80% on the invoice value, or up to 85% at Grow.
  4. Get paid
    If you took out invoicing discounting, you will then be required to carry out accounts receivable as normal. With invoice factoring, the financier chooses how the accounts receivable function will happen in consultation with the business.
  5. Finalise agreement.
    ‍When the final payment has been completed, the remainder of the invoice that you didn’t receive earlier is repaid back to you, minus a service fee.

Case study: WETT Solutions

Funding that supports 20% year on year growth

See how a Sydney-based design and manufacturing firm, WETT Solutions, used invoice finance to smooth out cash flow gaps.

Read more
  1. Interest is based on a yield above the RBA Cash rate with a floor of 0%. The RBA cash is published on Rates and lending amount subject to credit criteria. Fees and charges are subject to change. Terms and conditions apply. Please contact our team on 1300 001 420 for details.
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