Got a question about Debtor Finance?
How do I apply?
Applying for a debtor finance solution with Classic Funding Group is quite simple:
1. Speak to one of our debtor finance specialists to discuss a tailored funding solution.
2. Based on the information provided, we will issue you with an Indicative Offer.
3. Due Diligence will be required to progress to formal approval and documentation.
4. Verification and Settlement are required to complete the process.
How much can I raise?
Debtor Finance solutions can be established for amounts starting from $300,000 to over $3,000,000 and you can raise up to 85% of your eligible debtor book.
How much does Debtor Finance cost?
At Classic Funding Group, we do not believe in treating you like a factoring client. You will be charged a fee against the amount borrowed under the facility that is comparable to overdraft rates. An additional service fee also applies to cover our costs of administration. To find out more about our facility pricing please contact us and speak to one of our invoice discounting relationship managers.
What is a revolving facility?
Unlike a term facility, where your business makes monthly repayments towards an outstanding balance, a revolving facility fluctuates depending on the level of invoices outstanding. Your available working capital will therefore vary and your advance (loan) is repaid via customer receipts, not repayments. As your sales increase and you generate more invoices, more funds will be made available for you to use under the facility.You can upload invoices, request payments when needed and view accounts at any time through our online portal.
Which types of companies are eligible?
To benefit from our debtor finance solutions, your business will:
- Sell its products or services on credit terms
- Have a turnover in excess of $1,000,000 per annum
- Have a borrowing requirement above $150,000
- Gain a performance benefit through a debtor finance arrangement
- Operate in industries such as Distribution, Manufacturing, Transport/Logistics, Printing, Labour Hire and other Business Services.
Why choose Classic Funding Group for Debtor Finance?
Our flexible and low maintenance debtor finance solutions provide:
- Up to 85% of invoice value in advance
- Confidential funding
- 24-7 online system to manage and process invoices and make payment requests at anytime for a seamless customer experience
- Support across numerous business sectors and industries
- Access to decision makers, we want to understand our client's business and actively maintain open lines of communication with them
Will it be easier to obtain Equipment Finance if I have a Debtor Finance facility in place?
Yes, it will be easier for your business to obtain equipment finance. With an existing debtor finance facility in place you will benefit from the surety of on-going cash flow as well as the benefit of having additional security. In fact, you may be eligible for a minimum of $75,000 pre-approved equipment finance funding with the approval of your debtor finance facility. Additional funding can be made available if required and will be subject to our credit criteria.
Will my customers know I am using it?
Absolutely not. At Classic Funding Group, we provide a 100% confidential funding facility. You will issue your own invoices to your customers as usual, set the same trading terms, collect your own payments and manage your sales ledger as usual.