Speed up your business cash flow - and grow!
Take the brakes off your business's growth potential by getting paid cash the day after you issue your invoices.
As well as boosting cash flow quickly, a Debtor Finance facility can provide greater certainty and clarity for the future of your business. There are a number of features that can provide real value to your business, these include:
| Feature / Benefit |
Description |
| Boost your cash flow |
Debtor Finance gives your customers up to 90 days to settle their accounts, but gives you immediate access to a portion of their value usually within 24 hrs, to meet immediate costs e.g. wages |
| Increase funding flexibility |
Debtor Finance can free up assets, that may have been previously held as security and enable additional lending opportunities to fund other projects |
| Reduce personal exposure to the business |
Funds available via a Debtor Finance facility can provide an opportunity to release personal assets from the business books |
| Provides dollar savings |
Having an alternative source of cash flow eliminates the need to offer early settlement discounts to customers. |
| Saves time |
Having this facility set up and available can save administration time and also provide access to additional funds fast, without having to go through a finance application process. |
| Security |
Up to 80% of the value of your invoices can be released, usually within 24 hrs. With the balance, less fees, being paid to you when your customers settle their accounts. |
| Statements |
Secure password access for you to review your Debtor Finance facility details and relevant reporting 24/7 (see next steps' for access details) |
| Minimum facility limit |
$50,000 |
Fees
Costs for a Debtor Finance facility are negotiated and agreed
upfront. The actual costs to you will depend on things such as the percentage of invoices' value you request in initial payments, turnover, workload and perceived risk. As a guide, the current fees are as follows:
| Item |
Description |
Fee Range |
| Management fee |
Negotiated and agreed as a percentage of invoices received. |
0.20% to 1.75% |
| Discounting Fee |
This is the interest charged on the balance of the monies advanced, plus costs, less collections. |
Suncorp Base Variable Rate**, plus a risk margin between 0.80% to 2.00% |
| Arrangement fee |
A one off fee to cover the costs of setting up the facility, including government charges. |
Negotiated on application |
The Debtor Finance product is provided by Benchmark Debtor Finance Pty Ltd ABN 94 082 607 654^
Debtor Finance
To approved applicants only, terms and conditions apply.
**The Suncorp Base Variable Rate is subject to change from time to time in line with market movements. Changes are advertised in The Australian Financial Review.
^ Suncorp is acting under an arrangement it has with Benchmark, and in doing so is acting as a referrer for Benchmark and not as your agent. Suncorp and its related corporations do not accept any responsibility or liability for, or give any guarantee in respect of this product. Suncorp receives a commission from Benchmark Debtor Finance Pty Ltd.
