Invoice Finance is a great solution for businesses that generate consistent income from clients with payment terms of 30 days or more. Xceda can provide funding up to 80% of the value of the invoices when you issue them, without having to wait for the client to pay you.
- Loan facilities up to $500,000
- Secured by valid and verified invoices issued to the Borrower’s customers
- Interest Rates & Fees: From 12.95% p.a. plus admin fees for each invoice funded (rates offered will depend on the security provided)
- Application requirements include:
- Customer contracts and invoice templates to be provided
- Financials required
What is Invoice Finance?
An invoice finance facility from Xceda up to $500,000 allows you to convert your debtors ledger to cash immediately, then forget about them, allowing you to focus on growing your business.
You will be able to borrow up to 80% of the value of your invoices on an ongoing basis, usually while retaining any existing banking facilities that you may have.
Also known as Cashflow Finance, Debtor Finance, Invoice Factoring and Invoice Discounting, invoice finance provides an alternative to the traditional bank overdraft.
How it works
- Send Invoice
- Send an invoice to your client and us at the same time.
- 80% Paid
- We approve the invoice and pay up to 80% - same day.
- Client pays
- Your client settles the invoice when its due.
- We pay you
- We release the remaining funds to you.
Say hello to consistent cashflow
Invoice financing, or invoice factoring, is an option that is growing worldwide and is still relatively new in New Zealand. Invoice factoring is a financial transaction whereby a business sells all or a portion of its accounts receivable (invoices) to a third party (called a factor) at a discount, in exchange for immediate money with which to finance continued business.
- Quick Turn Around
- We can pay out up to 80% of your approved invoices on the same day you send to your client
- No Assets Required
- Instead of assets you can use your debtors, your customer invoices, as collateral.
- Growth Focused
- We help provide you the cashflow needed to grow your business.
Our service focuses squarely on the smaller SMEs who benefit most from improved cash flow using their main asset, unpaid invoices. We’ve the advantage of extensive experience and cutting edge software that provides real time transparency through a unique online client interface.
Frequently asked questions
Submit copies of your invoices to Xceda and receive up to 80% of the value of those invoices into your bank account. Your customers pay us and we then release the remaining 20% to you. Keep submitting invoices for continuous cash flow