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.
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 email@example.com and chat to a specialist.