What is invoice finance?
Invoice finance is short term financing, used to improve the working capital and cash flow position of your business. Businesses that have large corporates as customers typically have to wait 30-90 days for their invoices to be paid. Invoice finance enables you to sell your invoices at a discount and get paid immediately.
Why use Timelio invoice finance?
Timelio is an online, peer-to-peer marketplace (P2P) that allows businesses to gain access to 100% of the value of their invoices. It is easy to use, has no lock in contracts and is a great way for businesses to increase working capital to grow and take advantage of new opportunities.
How do I sign up?
Fill out our simple online application and get started.
Is it difficult to use Timelio?
Not at all, our platform is quick and easy to use and our online application process saves you time. Simply upload an invoice and get funds the same day!
Can I use Timelio?
Yes, if you are an Australian registered business with customers that are large corporations or government bodies and you need working capital to grow your business.
Do you have minimum turnover requirements?
No, we assess each application on a case by case basis - we've funded startups through to established businesses. We only require a minimum invoice size of $10,000 (talk to us about bundling smaller sized invoices).
Is Timelio different to factoring?
Yes, we do not require you to fund all of your invoices. You select the invoices as you want to finance, to bring in exactly the amount of cash you need for your business. Timelio offers flexible finance and you're not tied in to long term contracts. There are no ongoing fees and you know exactly your cost of finance upfront. And importantly, we don't interfere with your customer relationship.
How much does it cost?
There are two fees:
- Transaction fee on each invoice funded (GST is charged)
- Discount fee to Timelio investors, calculated daily (GST exempt)
There are no hidden costs. The total cost of funding will be clearly presented before an invoice is financed and will depend on the invoice value and expected payment date. Get in touch and we'd be happy to give you pricing information specific to your business.
Are my invoice finance costs fixed?
There are no fixed costs. As you build up an invoice trading history on our platform and investors see a history of repayment from your debtors, your cost of finance may reduce over time.
How much do I receive?
Up to 100% of the invoice value is advanced, less any fees. A Late Payment Reserve is withheld that is equal to one month’s discount fee and is paid to you when the debtor pays on time.
What happens if an invoice is paid late?
The discount fee paid to investors accrues at a daily rate and will be adjusted accordingly. Any additional discount fee accrued after the expected payment date will be deducted from the Late Payment Reserve.
What happens if my customer doesn’t pay the invoice?
Timelio does not chase the debtor for payment. Recourse is to you in the event of non-payment by the debtor.
Do you contact my customer?
Once a trade is ready, Timelio seek verification with the debtor and this is led by you. A confidential service can be offered in specific circumstances.
Do you offer contract finance?
Yes, we enable you to unlock the cash in your contracts. We can fund contract progress payments or recurring revenue such as licenses. To find out more, contact us to speak with a funding specialist.
Can you fund my overseas invoice?
Yes, if you export and have overseas customers we can fund up to 90% of the invoice value.