Our application process is designed to make it easy for you to sell invoices and obtain funds for your business, however we do require some information to help us reach a ‘yes’ decision.

The bottom line is transparency.  We want to understand you, your company, the invoice you are selling and your customer.

The process begins with our application form followed by the provision of a number of important documents.

Personal Information

 Firstly, we want to know about you.  It will help if you complete our application form and provide the following documents:

• A statement of financial position.  This is a brief rundown of your assets and liabilities
• Identification.  Either a Driver’sLicence, Birth Certificate or Passport

Company Information

We like to get as much detail about your business as possible.  The following documents are important:

• Interim financial statements supplied by your accountant
• Last year’s  Balance Sheet and Profit and Loss Report
• BAS statements for the last 3 quarters
• Up to date Tax Portal statement
• A copy of your company bank account for the past 3 months
• Aged debtors listing (current)
• Aged creditors listing (current)
• Where a Trust is involved, a copy of the Trust Deed

Invoice Information

When we buy an invoice we are investing in an asset.  We need to be satisfied the asset exists and  is strong.  You can help us by providing:

• A copy of the  invoice – with the amount, the debtor, the payment dates all clearly identified.  We won’t accept an invoice which is already overdue.
• Terms and Conditions of Sale  – this is crucial.  We’ll want to see if there are any conditions which could reduce the final amount paid by your customer.
• Evidence the goods or services have been delivered
• Evidence the invoice is not in dispute
• Some form of paper trail from the time the service or product was ordered to when it was delivered.

Customer Information

This is the most important part of the transaction. There should be no doubt that the customer will pay the invoice on time.  It will definitely help your cause if you can provide us with the following documents:

• Any credit application your customer has signed.
• Any credit references you have obtained
• A history of your relationship with the customer including a debtor transaction report at least 3 months old.
• In addition to this you will need to contact your customer and explain  that you have assigned the invoice to us.

Sometimes,  not all the  information we need is available.  That  won’t necessarily rule you out,  but it does mean that what is available needs to be comprehensive and help fill in the gaps.

It definitely helps if you have an established business, high turnover, a clean credit history and lots of customers, however, the qualification criteria is flexible.    If your customer and the invoice are strong then it is not so necessary for you to have a “perfect” record.