There are many advantages to using AddCash Finance. Some of the features include:
Who is eligible?
- Start-up Businesses, Sole Traders, Partnerships, Trusts and Companies all welcome.
- Businesses who sell on account and wait 7, 30 or even 60 days to be paid.
- Your Customers need to be other businesses who have an ABN.
- Invoices financed need to be for product delivered or services fully completed.
How much can you borrow?
- Limits from as little as $20,000 up to $400,000.
- Facilities operate like a line of credit, draw what you need as and when you need it.
- Receive up to 70% of your unpaid Customer invoices up front.
- The balance of 30%, less AddCash costs, is paid to you when Customers normally pay.
- Invoices up to 60 days after the month in which they are generated are eligible for funding. For example an invoice generated on 1 July is eligible to 30 September.
How does it work?
- You deal with your Customers as normal, take orders, deliver product & services, raise invoices and collect payments. You remain in full control.
- All Customers can be used for finance or you may select just one, two or a few.
- A copy of each Customer invoice is sent to AddCash via our secure online system.
- Money made available by AddCash can be used for any business expenses you choose.
- Funding is paid into your existing business bank account so there is no need to change cheque books, direct debits or EFT payment details and templates.
- On your invoice you include your unique AddCash bank account.
- Customers pay straight into your AddCash account, automatically repaying the facility, there are no other regular repayments you need to worry about.
- You can leave surplus money in your AddCash facility to reduce your costs like an offset account attached to your home loan.
- No monthly reporting, just a simple update each week so that AddCash is kept up to date with your business.
How long do you use AddCash?
- AddCash provides an ongoing commitment to your business.
- However, you are not locked into a long term contract.
- You may leave any time without incurring penalties or break fees.
What does it cost?
- If you do not draw money from AddCash the cost is nil.
- This is regardless of how many Customer invoices you have generated.
- There are no minimum monthly or annual fees.
- Pay only for what you use.
- A simple fixed discount fee charged weekly on the invoices financed.
- There is no fee to request a quote or apply.
- Everything is online, secure and paperless just like internet banking.
- Access is available 24 hours a day, 7 days a week.
- You can also view your facility via your Mobile phone or tablet device.
- Visit the Guest Login for a free demonstration.
What do you need?
- Internet access.
- A business e-mail account.
- Ideally you use software to generate Customer invoices likes MYOB or Xero.
If computers and accounting are not your thing - don't worry - AddCash staff are only a phone call away to help you out and make it easy. Basically if you can generate an invoice, send an e-mail and use the internet then you are very capable of using an AddCash facility.
Give one of our friendly staff a call to find out how we can assist your business.