20.7.15 – How to set up An invoice funding account
ESTABLISHING an invoice finance agreement with The Invoice Market is not half as complicated as applying for a business loan with the banks.
Here’s how the process works, step by step.
What’s needed from you…
First step is to fill out an application form that helps us gather background information about your company and the invoice you want to sell.
The Invoice Market protects your privacy. We will not send unsolicited emails or other unwanted material.
With your agreement, a credit check will be conducted. A bad credit history won’t necessarily mean we can’t work with you. But we will need to understand circumstances around any defaults or judgments.
The Invoice Market has to be completely confident that your customer has received the services or products they’ve been invoiced for and the invoice is legitimate, undisputed and will be paid in full.
Documents required to gain funding:
- Actual invoice
- Nomination of Invoice for Sale form (provided by The Invoice Market)
- Proof of delivery (“POD”)
Information from your customer….
The Invoice Market provides a debtor notification letter that you provide to your customer and explaining that you have assigned the invoice to us.
We can be flexible
The Invoice Market understands that business is unique and every industry has its own nuances of operations, and therefore not every Australian business can supply all the required information.
It’s particularly difficult for start-ups to provide historical documents.
The same applies to companies which may not have the perfect trading record. We are pragmatic enough to understand that in real life many businesses experience ups and downs.
But if your business has a genuine invoice to sell, The Invoice Market can work with you if your customer is strong and confirms that the invoices will be paid on time.
Free Expert Advice
But if your business has a genuine invoice to sell, The Invoice Market can work with you to provide you cashflow funding if your customer is strong and confirms that the invoices are legitimate for services rendered or goods delivered.
Call 1300 694 686 or complete our seller registration form.