Invoice finance alternatives of up to $250k for Australian SMEs

Thinking of using debtor finance to unlock capital from unpaid sales invoices? We offer a more flexible way to release working capital

Working capital loans for SMEs

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Flexible, versatile funding tailored to your needs

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Competitive rates and charges with no hidden fees

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What is invoice finance?

Invoice finance, also known as invoice factoring, unlocks the cash tied up in your sales ledger even when customers are slow to pay their bills. A business effectively ‘sells’ the invoices to a third party ‘factor’ for a discounted amount, which is why it’s also known as invoice discounting.

Factoring is a popular cash flow finance solution, because the business is effectively being given an advance of funds it has already earned. The factor typically pays within 24 hours, providing valuable working capital to the business.

Flexibility and convenience are two commonly promoted features of debtor finance. An unsecured business loan from Spotcap offers similar benefits, and our finance also has the advantage of being entirely independent of your sales ledger.

What is invoice finance?

Invoice finance, also known as invoice factoring, unlocks the cash tied up in your sales ledger even when customers are slow to pay their bills. A business effectively ‘sells’ the invoices to a third party ‘factor’ for a discounted amount, which is why it’s also known as invoice discounting.

Factoring is a popular cash flow finance solution, because the business is effectively being given an advance of funds it has already earned. The factor typically pays within 24 hours, providing valuable working capital to the business.

Flexibility and convenience are two commonly promoted features of debtor finance. An unsecured business loan from Spotcap offers similar benefits, and our finance also has the advantage of being entirely independent of your sales ledger.

Could a Spotcap business loan be your alternative to invoice finance?

The stronger cashflow made possible by a Spotcap unsecured business loan offers real benefit to your business. You could use the extra working capital to:

  • Protect your bank balance

    Major payments, like the payroll, can put a real strain on your bank balance. A short-term loan from Spotcap offers a more flexible approach to raising the funds needed to stay out of trouble

  • Upgrade your technology

    Investing in new technology can give you real competitive advantage. Take the opportunity of an unsecured loan to move into areas of exciting innovation, such as the Internet of Things, wearable technology or 3D printing

  • Cover the cost of a business reorganisation

    Businesses change over time, through mergers, acquisitions or relocations. Where you may have chosen invoice finance to protect your cashflow at such times, you can now choose the more flexible option of a Spotcap loan

  • Invest in a bold new marketing campaign

    An unsecured loan can provide the cash required to set up and deliver a marketing programme. Our loans make it really easy for you to save money on interest charges, because we don’t levy a fee if you repay early.

  • Emergency funding

    The best cashflow planning can’t anticipate unexpected events, such as losing a major contract. This is where you might turn to invoice finance, and where a Spotcap loan can help

How does invoice finance compare with a Spotcap business loan?

Invoice finance helps businesses to improve their working capital and cashflow, particularly when clients or customers aren’t paying on time. A loan from Spotcap can also be used to improve working capital, and our finance offers additional flexibility.

We do not ask for security or guarantees on our business loans. This is made possible by our unique credit review process, which allows us to quickly assess the financial condition of your business.

In addition, we make it easy for you to repay early without any penalty fees. You stay in full control of your cashflow, your debtors’ ledger and your profits.

What you need to know about our business loans

Loan amount

Your business could borrow between $5k and $250k. We don’t ask for security or personal guarantees

Loan terms

You only pay for what you borrow, so there’s no charge if you’re approved for a credit line you don’t use. When you do draw down funds, repayments are usually over 6 to 12 months

Criteria to qualify

We review your recent business performance. Our loans are available to businesses registered and operating in Australia, with a minimum turnover of $100k, that have been operational for at least 12 months and have an Australian online bank account

Interest rates

The business loan interest rate we charge reflects market conditions and your recent business performance. Our business loan calculator lets you estimate monthly repayments and interest costs

Spotcap business loan repayment calculator

  • Amount
    $ 125,000
  • Time
    9 months

$14,951

Monthly repayment

For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Monthly repayment

$14,951

  • Amount
    $ 125,000
  • Time
    9 months
For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

How to request a flexible business loan from Spotcap

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Sign up

Begin our online application process by entering basic business and personal information

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Complete the application

Linking your accounting software and online bank account, or uploading financial statements, is required to complete your loan application

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Get approval

Having been approved, you’ll usually be able to access your business loan within 24 hours