What is Accounts Receivable Funding?
Accounts Receivable Funding is a way to ensure your business has the cash it needs to operate and grow. It works by tapping into the money hidden in your accounts receivable ledger.
If you have invoiced other businesses and are waiting for payment, this is effectively usable credit and it is a shame to borrow at high interest to make ends meet when you technically have the money on your balance sheet. So instead of entering into a term loan requiring regular repayments, a business can use its accounts receivable book to get money upfront, instead of waiting weeks or months for an invoice to be paid. Businesses can meet many of their funding needs, including major investments, using this flexible form of finance.
Fast 5-Minute Online Application
It only takes 30 seconds & won’t affect your credit score!
Accounts Receivable Funding Offers A Great Solution To
Problems with slow paying customers
Start-ups successfully trading but struggling to get funding
Businesses who want their accounts receivables to work for them
Seasonal cash flow fluctuations
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How does it work?
- After setting up a funding account, invoices are emailed or uploaded to us. tim. will then transfer up to 90% of the face value of the invoice in to your account within 24 hours.
- When the invoice is paid in full by your debtor, your business will receive the remaining balance less a small discount fee charged.
- No upfront fees and No interest charges, whatsoever!
How Much Money Can You Access?
- You can draw down on funds at any time and for any amount (minimum: $50,000) provided you have at least sufficient outstanding invoices to provide for the amount you require.
- The amount of funding you can access is directly correlated to your current receivables ledger, not your past sales and not your debt position of the business.
- As your debtor/s pay their invoices as per your current payment terms, you are then able to repeat the process of re-drawing down the funds you require, over and over. The tim. “cash flow loan” or invoice finance as we like to call it, can be utilised as and when you need it and you can access up to $5.0 million for your business at any one time.
- We offer flexible funding facilities ranging from $50,000 to $5.0 million.
Why use Accounts Receivable Funding?
The days when various forms of bank funding – usually linked to property security – were the only option for businesses seeking funding are long gone. Many Australian SMEs have embraced alternatives such as tim’s flexible invoice finance. Quite simply, it’s easier, fairer, faster and cheaper. Well over $60 billion is funded to Australian businesses each year using their accounts receivables ledger.
No Hidden Fees
No application or set up fees, no repayments, and no property security required.
It’s 100% Flexible
With tim., you are in control. Use our online system to manage your cash flow and chose the invoices and debtors you want to cash, as and when required.
Funding In 24 Hours
Get your cash flowing now and grow your
Why Your Business Should Choose tim.
Over the last few years, tim. has paid more than $350 million to over 200 Australian businesses, based on 20,000+ invoices.
Here are some of the reasons so many SMEs choose tim.:
It’s low risk
Due to the requirement for security, many other forms of business finance can be risky. But with tim. your invoice is the only security you need, and we offer protection against the possibility of that invoice going unpaid. Our timSecure™ system ensures that if you debtor fails to pay, you’re covered. Provided you have acted legally in your invoicing, timSecure™ covers up to 90% of the funding and can also help with legal costs associated with chasing a bad debtor. So with tim., neither your business, your home, or your reputation is ever on the line.
It’s low cost
With no interest charged, no upfront fees and no repayment schedule to worry about, our accounts receivable funding is the ultimate low cost, practical way to access business finance. tim. is not a bank and is not like other ‘unsecured’ cash flow lenders: we don’t not force our clients into agreeing long term debts that will cost them dearly for years to come.
No Hidden Fees
Extra fees are so common in business lending that SMEs have got used to them – but they should’t accept them! It’s worth looking at a short, non-exhaustive list of fees tim. does NOT charge compared to other lenders:
- No exit fees
- No unused facility fees
- No audit fees
- No property security
It’s available to all
Because tim’s accounts receivables funding is not dependent on assets or credit ratings, it is available to far more business than alternatives such as a bank loan or unsecured business loan. Every Australian business that invoices other businesses (B2B) can use our service to access flexible funding facilities ranging from $50K to $5M. If your SME has been rejected when seeking a business loan or overdraft despite trading healthily, we absolutely won’t hold that against you.
There are no restrictive contracts or long lock-in periods
We offer a flexible and tailored funding solution. Rather than using long contracts and strict repayment schedules to cover ourselves at the expense of our customers, we let businesses decide when they need funds, and when to raise cash against their outstanding invoices. If you want to use tim. only occasionally, that’s fine too.
Our application process is quick and easy
We’re a ‘Next Gen’ business finance provider. You apply to tim. online and our user-friendly software allows you to manage your account, raise finance and draw down funds as required.
Our Customers Have
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Clear requirements and helpful staff providing good service.
tim. Funding Process
5 simple steps to secure funding
- No application or set-up fees
- No long lock-in contracts
- No property security required
- Choose only the invoices you want funded
- No fees as you add more debtors
- tim. checks the credit rating of your debtors and verifies each invoice
- Open and honest appraisals
- Get up to 90% of your invoices paid to you without any hold backs or fees
- Get your money within just 24 hours of approval
- The more you cash-flow with tim., the lower the discount fee can become
- The balance due on your invoices are paid to you when your client pays their invoice, less a pre-agreed discount rate
- tim. is paid when you are paid and not before
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See how much cash you could receive based on your receivables ledger, with our easy to use calculator.
this 90% could be
yours in 48 hours
this is the remainder of the invoice which will be paid when your customer pays
the discount rate you could pre-agree with tim.
Note: The above results are indicative only and should not be relied upon whatsoever as outputs are subject to change based on specific customer data, debtor strength, and other credit criteria required, which may result in higher or lower results than shown above.
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