Inside Waddle

Unlock the cash in your outstanding invoices with Waddle debtor finance

Posted by Team Waddle on 31-Jan-2019 11:18:18

Topping the list of most stressful things about running a business has to be waiting for those outstanding invoices to be paid.

Topping the list of most stressful things about running a business has to be waiting for those outstanding invoices to be paid.

Delayed payments can be crippling when you don’t get that immediate injection of working capital you need back into the business. Cash locked up in invoices can create a raft of troubles when trying to keep consistent cash flow in your operation. Enter debtor finance...

Introducing Waddle debtor finance

At Waddle, we see this problem all the time. That’s why we designed our debtor finance solution to allow you to dip into money owed to you without having to jump through endless hoops.

With Waddle’s platform, you have the chance to get paid for your invoices when you need it — no more waiting 30, 60 or even 90 days. You're now in control of how much capital you bring into the business upfront. You’ll sleep better at night with reliable, predictable cash at your fingertips.

The maximum amount you can qualify for depends on the total amount and quality of your invoices, as the overall health of your business.

SEE ALSO: Invoice Finance vs. Factoring: The Devil’s In The Detail

A typical funding scenario:

Waddle customers come in all shapes and sizes and from various industries. Here is a fairly typical example:

• Total value of customer invoices: $100,0000
• Total credit line granted: $80,000
• Frequency: Daily funding against fresh invoices
• Interest rate: From 6.95% per annum (charged on account balance)
• Transaction fee: 0.3 - 1.2% (charged on amount borrowed)
• Repayments: Customer payment/s pay down your balance

Waddle's line of credit is similar to a bank overdraft, only it’s not secured by your real estate or personal assets.

So who would qualify?

Any business with a B2B operation can qualify for the line of credit, as long as they currently have outstanding receivables to borrow against.

You'll need to pass the following:

  • Been in business for a full trading year
  • Have an annual turnover > $250,000
  • Use cloud accounting
  • Sell on credit terms
  • Have bookkeeping up to date at least weekly

Got any questions? Phone 1300 649 322 or email team@waddle.com.au and chat to a specialist.

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Topics: Invoice Finance

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