Advantages of debt factoring
Debt factoring is a flexible alternative to traditional business loans as the amount of funds that can be accessed is based on the business’ sales (not the balance sheet or the debt and ATO position of the business). Debt factoring can hugely benefit cash flow since businesses can get instant access to a large percentage of the money owed to them immediately, instead of waiting for payments to arrive in 30 to 60+ days’ time.
Businesses that use debt factoring have better negotiating power with suppliers by using the money they receive upfront, to take advantage of early payment discounts and bulk-buying opportunities with their suppliers.
Quick Online Application
It will only take a few seconds & will not affect your credit rating.
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How does it work?
- After setting up a funding account with tim., you then email or upload any or all outstanding invoices to us for funding.
- tim. will then transfer you with up to 90% of the face value of the invoice within 24 hours of approval.
- When the invoices are paid in full by your debtors, your business receives the remaining balance less a discount fee to tim.
- Businesses that are eligible for debt factoring must have B2B sales, on credit terms and invoices for the sale of goods or services that have been received.
tim. Debt Factoring Offers A Great Solution To
For small and medium size businesses that need working capital to keep growing
Businesses with annual revenue of at least $1.5 million and who have at least 4 regular paying customers
For businesses that are coming out of a tough trading environment that need cash today to bridge the gap between invoicing customers and getting paid
Seasonal cash flow fluctuations
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
Why Debt Factoring with tim.
No long-term contracts. Self-select and manage your cash flow needs.
No upfront Application fees, no property security required and no hidden fees.
No property security required
Fast approval with funding in 24 hours of account establishment
tim. wil fund $100,000 to $5.0 million.
Our Customers Have
Rated Us “Great”
Extremely great service
The personal service & inter-action was extremely gratifying, as a result we were able to do business, which has put our company in a very positive position, I can't speak highly enough of these professionals and would do business with them again, definitely recommend the great service they provide to anyone.
Excellent and Professional
We were experiencing a cash flow issue due to rapid expansion in our business. We dealt with TIM and all the lovely staff were so helpful and within a short amount of time we were able to solve our issues and resolve our cash flow. I would definitely use TIM again if needed without hesitation. I would also recommend them without any doubt to anyone in need of their services.
Make cash flow management easy by aligning your accounting software to timEX.
tim’s accounting interface is quick to activate and helps to manage money and pay suppliers..