Invoice factoring made simple

Fast and flexible access to cash flow from your unpaid invoices.
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  • Lines of credit up to:

    $50k - $15 million

  • Rates from:

    4.95% p.a. to 11.95% p.a

  • Approvals as fast as:

    24 hours

Invoice factoring to help your business grow

Our invoice factoring services can be tailored to businesses of all shapes and sizes. We have the flexibility to connect to your online accounting platform or you can upload the invoices you would like financed. The choice is yours and we'll work with you to find the best solution for your business.

Flexible financing
Flexible financing

Have an ACN or ABN and outstanding invoices due from other businesses for completed work? We'd love to hear from you.

Simple to apply
Simple to apply

Earlypay links with Xero and MYOB to fast track loan applications. Don't use one of these? No problem, we can still help.

High approval rates
High approval rates

Short trading history, ATO debt or less than perfect credit history? It doesn’t need to stand between you and the finance you need.

No real estate
No real estate

Rather not use your home as security? Our business line of credit only uses your outstanding customer invoices.

Cash flow to grow
Cash flow to grow

Your available finance using invoice factoring increases with your sales so you can access the cash flow you need to grow.

Simple and intuitive
Simple and intuitive

Our modern online platform makes it simple to access funds with less admin.

Invoice factoring for businesses of all shapes and sizes

As Australia's most flexible invoice factoring provider, we can support businesses that others can't.

If you satisfy the basic requirements below, we'd love to hear from you.

  • You have an ABN or ACN
  • You have outstanding invoices with other Australian businesses
  • You invoice after goods or services have been delivered

At Earlypay, we like to say ‘yes’ to supporting Aussie SMEs. Contact us today for a tailored finance solution that works for you.

Applying for invoice factoring

To apply for invoice factoring, simply click the Sign-up button and complete some basic details. An Earlypay representative will then contact you to understand how you invoice your customers. For businesses using Xero or MYOB AccountRight, you can streamline your application by connecting your accounting software to Earlypay.

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Frequently Asked Questions

  • Questions about applying for finance

    How do I apply for Invoice Factoring?

    Applying for Invoice Factoring with Earlypay is a quick and easy online process. Simply click the sign-up button above, complete some basic details to get started and an Earlypay representative will contact you ASAP.

    If you use Xero or MYOB AccountRight, you can streamline the process by connecting your accounting software to Earlypay. This securely provides financial information that may include invoices, credit notes, bank transactions, payments, profit & loss statement and balance sheet.

    How long will it take for my finance to be approved?

    If you use one of the compatible online accounting platforms, we aim to let you know within 24 hours if your finance has been approved or not. If you don't use Xero or MYOB AccountRight it can take a little longer depending on how long it takes to get the information together.

    How long will it take to receive funding?

    We aim to advance funding within 24 hours of approving your finance.

    How much finance can I get?

    Earlypay provides Invoice Factoring facilities from $50k all the way up to $15m so we have the capacity to support businesses of all shapes and sizes. More relevant is the size of your accounts receivable ledger as we can advance 80% (sometimes 90%) of the value of those outstanding invoices. For example, if you have $500k of Eligible Invoices, we can advance up to $400k noramlly and can make temporary exceptions to advance more than that.

    What invoices can I fund?

    Invoices eligible for funding are invoices outstanding with Australian businesses for goods that have been delivered or services that have been completed. Typically, Earlypay doesn’t fund invoices that are more than 90 days past the issue date.

    How much does Invoice Factoring cost?

    The interest rate charged on Invoice Factoring balances ranges between 4.95% and 11.95% per annum. Depending on how you would like your facility to work and any additional services (eg. collections management), there may also be Drawdown or Administration fees.

    Why would I use Invoice Factoring instead of an Unsecured Business Loan?

    Invoice Factoring is generally more flexible than Unsecured Business Loans because you can access funding as and when you need the cash flow. Unsecured Business Loans provide a lump sum amount that is repaid with regular repayments over a fixed term whereas the repayment of Invoice Financing occurs when customers pay the invoices that were financed.

    Invoice factoring is often more cost effective than unsecured business loans as it uses the accounts receivable ledger of your business as security, making it less risky for the invoice financier.

    Business loans require businesses to have been operating for a minimum period and show evidence that the repayments can be adequately covered by revenue. Invoice factoring, can be a great solution for businesses that have invoices eligible for financing but don't quite satisfy the requirements for unsecured business loans.

    If you're business has a short trading history, less than perfect credit score or ATO debts, you may still be eligible for invoice factoring with Earlypay.

  • Questions about how Invoice Factoring works

    How Invoice Factoring Works with Earlypay

    1. Invoice your clients as you normally would.
    2. Provide Earlypay with the details of the invoices you would like to fund. (If you use Xero or MYOB AccountRight Live, Earlypay can source your invoice details through our clever integration. If you don't use these online accounting platforms, you can upload the invoice details to our platform.)
    3. Receive up to 80% of the value of your funded invoices upfront.
    4. Your customers pay invoices into a collections account set up in your name which repays the outstanding finance and the excess becomes available to you.

    Will my customers know that I'm using Invoice Factoring?

    Earlypay offers both Confidential (Undisclosed) and Disclosed Factoring services. Typically, established businesses are eligible for Confidential Factoring, and Disclosed Factoring is better suited to businesses that have a short trading history, significant debts or a less than perfect credit history. Earlypay will work with you to tailor the best solution for your business.

    How do I access my Invoice Factoring facility?

    You will be given access to an online portal where you can view your invoices and funding availability, request drawdowns and download reports.

    What security do I need to provide for Invoice Factoring?

    One of the main benefits of Invoice Factoring is that it doesn't require real estate security. Funding is advanced against the value of the unpaid invoices and the primary security is the invoices themselves.

  • Questions about the types of Invoice Factoring

    What is the difference between Invoice Factoring and Debt Factoring?

    Nothing, Debt Factoring is another name for Invoice Factoring.

    What is Confidential Factoring (Undisclosed Factoring)?

    Confidential Factoring or Undisclosed Factoring is when Earlypay provides funding of your invoices and your customers are not aware that there is a Factoring facility in place. Confidential factoring is generally offered to businesses with a strong track record.

    What is Disclosed Factoring?

    Disclosed Factoring is the arrangement where your customers are aware that Earlypay is financing your invoices. Disclosed factoring arrangements generally involve Earlypay managing the collection of your invoices and we may contact your customers on your behalf to ensure they pay your invoices. This is a useful arrangement for businesses that have small finance teams or simply choose to outsource this function and focus on other areas of their business.

    Disclosed factoring is increasingly common in Australia and although some business owners worry about their customers knowing that they use factoring, it is very rarely an issue. If you do prefer that the factoring arrangement remains confidential, please let your Earlypay representative know.

    What is Partnership Factoring?

    Partnership Factoring is an arrangement where the business retains control over the collection of the invoices and Earlypay will assist with other services such as allocating payments to invoices and stepping in to chase overdue invoices if necessary. Partnership factoring is suitable for businesses that want to maintain control over their customer relationships but would like to outsource some aspects of their accounts receivable management.

    What is the difference between Selective Invoice Factoring and Whole Ledger (Whole of book) Factoring?

    Selective Invoice Factoring allows businesses to finance some of their customer invoices whereas Whole Ledger Factoring, or Whole of book Factoring, makes all of the accounts receivable available for financing. Many businesses prefer to maximise the amount of funding by using all of their invoices although Earlypay also offers Selective Invoice Factoring.

    What is the difference between Invoice Factoring and Invoice Discounting?

    Invoice Factoring and Invoice Discounting are the two types of Invoice Financing.

    Invoice Factoring involves a business selling its invoices to the invoice factoring company in exchange for upfront payment for around 80%. When the invoice is paid, the finance with the factoring business is repaid and the balance, less any fees, becomes available to the business that sold/financed the invoice. Invoice factoring is generally disclosed to your customers and the financier can manage collections. Earlypay can however, offer confidential facilities to selected businesses.

    Invoice Discounting is different to Invoice Factoring as the invoices are not sold to the invoice financing business but instead used as security for finance. A business can access funding of up to 80% of the value of its outstanding accounts receivable balance. Invoice Discounting is often confidential and the business retains control of invoice collections management making it better suited to larger and more established businesses.

    What type of Invoice Factoring is right for my business?

    Invoice Factoring is a very flexible form of business finance that can be tailored to suit the needs of your business. In addition to unlocking cash from unpaid invoices, invoice finance can also include collections management services, allowing businesses to focus resources on other areas.

    Invoice Factoring is used by businesses across a wide range of industries including Wholesale trade, Transport, Manufacturing, Recruitment, Labour hire, Business services and many others.

    Start-ups, Growing and Established businesses are all eligible for Invoice Factoring and we’d love to hear from you even if you have a short trading history, less than perfect credit score or ATO debts.

    Given the flexible nature of invoice factoring, and the fact that every business is different, it's best to speak to our experienced team to design a solution that works best for you and your business.

  • Questions about eligibility for Invoice Factoring

    Can I use Invoice Factoring if I have debt with other lenders?

    Yes. We are mainly concerned with having security against your accounts receivable and can work alongside other lenders.

    Is Invoice Factoring suitable for start-ups?

    Yes! We love supporting early stage businesses. If you have outstanding eligible invoices, we can help with the cash flow your business needs to grow.

    Can you help if my business has ATO tax debt?

    Yes. Invoice Factoring can be suitable for businesses that have ATO debts and is often available when other types of business loans are not.

With Earlypay, there's no delay.
Free up cash flow, at your convenience.

Have a chat with our team to see how we can help your business grow.

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