Invoice Finance

When your business delivers goods or services to your customers and you raise invoices for these goods – this allows a funder like TIM to advance you up to 90% of the invoice value/s within 24/48 hours, instead of waiting 30 to 90+ days for your invoices to be paid. It’s similar to offering a discount on your invoice to a customer if they paid you ”cash on delivery”, but as we know, offering customers discounts to speed up payment rarely works.

With TIM Finance, you are able to finance your invoices and raise funds for your business without the need to give any property security. It’s simple, fast and the amount you can access will grow, as your business grows and you invoice more.

We are able to provide a response which entails a offer within 24 hours of you providing the company information we require to make our assessment. If you choose to upload copies of your aged receivables and aged payables ledger directly into our online application process, we can provide a decision the same day (provided you have uploaded the data during business hours).

You will receive funds within 24 hours of your invoices being approved. On average, the time from initial application submission to first funding is 5-7 days.

The total amount of your facility will depend on the specific circumstances of your business. We consider a variety of factors to determine the health of your business, suffice to say that we are in many cases able to advance up to 90% of your revenue (being your invoice value) at any given time. We look to advance amounts of between $100,000 and $3.0 million to businesses, at any given time.

When you apply, we will assess the risk profile of your business and provide you with a customised offer including the facility amount, term and discount rate. The charges will vary based on things like your industry, how long you’ve been in business, the profile of your clients and the health of your business.

We do not charge any upfront origination or application fees. There are no hidden fees for our funding solutions, and you’ll know exactly how much you need to pay and when. Unlike a business loan there is no principal and interest payments as we are not providing you with a loan, we are simply advancing you, your money based on the value of the invoices you have issued to your customers, which we charge a small discount fee on. This fee can range from as little as 0.75% to 3.5% of the value of your invoice. Think of it as giving an early settlement discount to a customer for them paying you in 24 hours – same concept.

If you wish to receive your individualised rate from TIM Finance, please call us on 1300 694 686 or complete our easy online application.

In short the answer is no!

TIM considers the health of a business to determine creditworthiness and more specifically your debtors ledger.

Any business that is invoicing another business (ABN to ABN) that is giving payment terms to customers to pay for good and services delivered. We do not provide funding to B2C businesses.

This is probably one of the biggest misnomers in Australia, and cannot be further from the truth. If anything your customers would have comfort knowing that you have a financial backer, providing you with the funds required to purchase your stock, pay your wages etc in order to deliver your goods on time and as expected. In fact it should provide them comfort that you are getting financial stability.

This notion is the old perception of factoring – which many years ago was provided to businesses going backwards. TIM Finance does not provide factoring solutions.

Most large business have loans from their banks and overdrafts, if you knew they had such debts would you feel uncomfortable, probably not as it means they are optimising their balance sheets (like you) by utilising 3^rd party funds themselves to keep growing. In the UK and USA, invoice financing is the go-to funding solution for small and medium and even large businesses, due to its flexibility, cheap funding costs and ease of use.

No. in fact it is a simple solution. We provide you with an online IT platform which allows you to upload your invoices from your accounting system directly into ours for funding. You are able to login at anytime to view your available funds, in real-time 24/7. It is a very simple process and does not cause any complex or increased admin tasks for you and your business.

Yes, it is 100% secure. We do not share any information that you provide to any 3^rd parties. Only our internal credit team can view it and it is saved in a safe and secure IT portal.

Yes, it is possible to have invoice financing on top of a business loan or overdraft from a bank. We will liaise with your bank, as they usually need to know that an invoice finance solution is being put in place and in some cases we require them to release your debtors ledger in order for us to provide you the funds against it (this is a very simple letter that the bank agrees/signs, they are all used to doing it). If you have a non-bank loan in place, we often find it more cost efficient if we settle this loan on your behalf and replace it with invoice finance, but again this is not a pre-requisite, it comes down to – what is best and cheapest solution for you and your business in order to ensure that your business continues to grow.