At Asset Factors, our solution allows approved businesses to have the invoices to their high credit quality customers paid faster. This reduces frustrating wait time and provides cash flow certainty.
We help small to medium businesses grow by reducing their most common pain point – cash flow stress. Our team understands the challenges of running a business and how flexible thinking can help businesses not only meet their financial obligations but plan for growth. We work closely with our clients to ensure that our model is right for their business. We love getting to know our customers and their industry and providing them with a platform from which to grow.
Our funding capital is accessed from a range of sources; global and domestic institutional funds, as well as private high-net-worth investors. This range of investors provides diversity and surety and means that our model is not influenced by one large funder.
For our customers, our invoice finance product simply means better cash flow when they want it. Our invoice financing is available to businesses that provide goods or services to business customers. Once approved, you have the flexibility to choose which invoices you would like to be paid by us, what percentage to fund and at what time. You can use our services as little or as much as you desire, which puts you back in control of your cash flow.
Our invoice payment platform has been custom-built to give our clients ease of access, clear financial reporting and security.
Invoice financing, or invoice factoring, is an option that is growing exponentially worldwide and is still relatively new in New Zealand. Invoice factoring is a financial transaction whereby a business sells all or a portion of its accounts receivable (invoices) to a third party (called a factor) at a discount, in exchange for immediate money with which to finance continued business.
The NZ invoice factoring market is currently at $1billion and growing, while in Australia is it has been valued at $78 billion.
Asset Factors is one of New Zealand’s leading specialist business financiers.
Our service focuses squarely on the smaller SMEs who benefit most from improved cash flow using their main asset, unpaid invoices. We’ve the advantage of extensive experience and cutting edge software that provides real time transparency through a unique online client interface.
If you think invoice financing could be the solution for your cashflow woes, then contact us today.
More than 97% of NZ businesses fall into the SME category and they employ 30% of our country’s workforce. So whether they thrive or fail has a big impact on our economy.
In Australia, businesses are waiting nearly eight weeks to be paid by other companies, with the average invoice payment time rising to 55 days for the first quarter 2013. In New Zealand, it currently stands at 43 days – still too long for those needing to pay staff and with their own suppliers demanding payment on 20th of the month terms.
Increasing payment terms and delays are pushing the limits for many small businesses which depend on incoming cashflow to pay their own suppliers and staff on time. Indeed, surveys show that more than 70 per cent of small businesses expect cash flow to be an issue to their operations.
Many debt financing options for SMEs can be restrictive with prohibitive terms or finance rates, as those who have had to provide guarantees against their personal assets can attest.
Submit copies of your invoices to your Asset Factors and receive up to 80% of the value of those invoices into your bank account. Your customers pay us and we then release the remaining 20% to you. Keep submitting invoices for continuous cash flow. Invoice finance is for businesses that provide goods and services to other businesses on credit. If your customers are a mixture of private individuals and commercial, only invoices to your commercial customers will be funded against. Most of the time you do not put up any personal property as security. Your business provides the security and there will need to be guarantees from the directors of the business.How does it work?
What businesses are suitable for invoice factoring?
What security would I need to provide?
You can choose whether to get funded against the invoices for one, some, or all of your customers. For your selected customers, you do need to fund against all of their invoices so that they only have one bank account to pay into. Most invoice finance facilities are disclosed, meaning that your customer is aware that they are paying their invoices into the bank account of a finance company. If strict criteria are met, you may qualify for an undisclosed or confidential factoring facility. The administration fee settled on will vary depending on the size of the facility, number of debtors, invoicing cycles and other characteristics of the business and the industry you are working in. Fees may range from 1% to 5% of the face value of invoices submitted for funding. Interest is charged only on the amount borrowed (not the facility limit) and is comparable to the before-fees interest rates of bank overdrafts.Do I need to submit all of my invoices?
Do my customers need to know that I am factoring?
What does it cost?
Asset Finance Limited has been supporting New Zealand small business for over 20 years and is a non-bank issuer governed by the Reserve Bank. Its professionalism is unquestionable and its reputation on the New Zealand business markets is impeccable. Asset Factors operates from their Auckland and Whakatane offices and has the clout of this New Zealand icon company to support its factoring operation. We are also able to provide vehicle, plant and equipment and property loans directly from Asset Finance.
We are not a bank, you are not a number
While New Zealand banks are very good they will always lend on their terms only and do not have the same flexibility that our specialist invoice finance company does. We learn our client’s idiosyncrasies and adapt our facilities to suit individual needs in the spirit of partnership.
Professional yet flexible
We have professional, international grade systems and an interactive client portal that enables us to provide headache free funding solutions. Our flexibility in no way compromises the professionalism that Asset Finance has been delivering to customers for many years.
Competitive rates
Factoring with Asset Factors does not need to be expensive as our tried and proven systems serviced hundreds of New Zealand clients in the past. We charge a simple interest rate and a single admin fee based on invoice value. If your invoices are paid within 90 days this is it, we do not charge additional fees when an invoice goes to 30 or 60 days as many other New Zealand factoring companies do.
We provide Invoice Discounting services.
We provide Invoice Factoring services.
We provide Invoice Finance services.
We provide Invoice Funding services.
We provide Accounts Receivable Factoring services.
We provide Accounts Receivable Financing services.
We provide Debt Factoring services.
We provide Debtor Finance services.
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