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What is Invoice Financing?
Invoice financing is a short term liquidity solution that provides your company with the ability to leverage unpaid 30 to 60-day invoices to obtain short-term business financing before your customer actually pays the invoice.
You sell them accounts receivable only when you need cash. There is no minimum amount or number of invoices or contractual period as most lenders can provide one-time funding, called ‘spot-factoring’
Rather than relying on your company’s creditworthiness to secure financing, invoice financing companies actually look more at the creditworthiness of your customer, as it is their future payment they are buying at a discount.
Factoring your company’s invoices allows you quick access to cash without having to present all of your business and personal financial statements. The funding process when selling invoices is about as fast as a merchant cash advance and other short term business loans — which usually take between 1-4 days to fund, without having as high of a rate as those financing options.
We understand how difficult it can be for businesses to obtain bank loans in the current business environment, invoice financing can be an attractive alternative for business owners.
Singapore registered company
Company registered at least a minimum of 6 months and operating in Singapore
Annual turnover of S$300,000 or more
Loan Amount: Up to 90% of invoice amount
Repayment Period: 30 - 60 days
Interest Rate: 2 - 4% Effective Interest Rate (EIR) per annum
Our finance consultants have processed hundreds of applications for business loans, we can help you reduce processing time, compare to get the lowest rates and maximize your financing amount.