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Specialist Small Business Invoice Factoring Across New Zealand

Small Business
Invoice Factoring

Your Local Invoice Factoring NZ Specialist

Invoice Finance with

Asset Factors

Asset Factors is the invoice factoring and invoice finance division of Asset Finance Limited (www.assetfinance.co.nz). Asset Finance Limited is a Non-Bank Deposit Taker (NBDT) regulated by the Reserve Bank of New Zealand. The company has been accepting term deposits from the public and providing personal loans and commercial/business finance to New Zealanders for over 22 years.

At Asset Factors we understand that your client relationships are paramount – and we make the invoice finance process smooth and easy with very little disruption to your business.

We assist small to medium businesses who provide goods and services to other businesses on credit terms.

Some of our specialty areas include:

  • Construction
  • Roading
  • Trades
  • Manufacturers
  • Labour Hire
  • Transport
  • Food wholesalers
  • Marketing material suppliers
  • Panelbeaters
  • Logistics

Why else would you choose Asset Factors?

We work fast and can be flexible to match your every changing business needs – most businesses are seasonal and we realise we need to work with this!

We use client software that is simple and easy to use, so you have real time updates.

We work hard to understand you and your business so we can work to meet your requirements.

Who are we?

Meet the team!

Claire Seymour – Factoring Business Development Manager
M: 021 774 386 E: [email protected]tors.co.nz
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Linkedin

Hi! I’m Claire – the main face behind Asset Factors, but fortunately backed up by a very cool team at Asset Finance. I’m a Eastern Bay of Plenty girl, residing in beautiful Whakatane. I travel to meet my clients wherever they are around our beautiful country! If you’d like to catch up chat about invoice finance, let me know and I’ll buy you a coffee!

Daniel McGrath – CEO Asset Finance

Daniel McGrath has been CEO of Asset Finance since April 2019 and is one of our major shareholders. Daniel hails from Brisbane, although he now claims to be a fully-fledged Kiwi!

Daniel went to university in Brisbane, obtaining Bachelors of Law and Business, before undertaking a post-graduate Masters Degree at Cambridge University in the UK. Daniel has always been a keen cricket and rugby player, only retiring from club rugby at age 40 and still plays 20/20 cricket for a local Auckland team.

Asset Finance Limited Team

Asset Finance is governed by a board consisting of 4 directors, 3 independent. To see our director profiles, and the Asset Finance team in full, please go to our Asset Finance website.

What do our

Clients Say?

What was your business challenge that lead you to factoring?

Our jobs were getting larger and larger in size, and the labour and material costs were simply too expensive to fund in the interim while we waited for the end of the following month (if we were lucky) for payment.

What were the things that worried you about factoring?

We worried that our clients would see factoring invoices as a weakness or view us as incapable of managing our cashflow. On the contrary, all of them have been so supportive of the process, understanding entirely that as a small but growing business, this is a fantastic tool for us that helps us to provide a better service to them. In fact, several of our clients upon learning about the service have turned to factoring themselves as an alternative to trying to find capital investment.

Has factoring with Asset Factors been helpful to you in solving your challenge, and/or growing your business?

We have often discussed the fact that if we hadn’t have done this, there is no possible way we would have been able to grow to the market leading company that we are now considered.

How have you found working with Asset Factors?

There is a deep sense of security that we enjoy by working with Asset Factors. Aside from the constant cashflow throughout the week and month that flows in, we know that Claire and Asset Factors always have our back. Claire has a very special magic wand that from time to time she pulls out of her bag to help us through a tight situation for a few days. The sense of confidence and calm that that affords us is utterly immeasurable.

What was your business challenge that lead you to factoring?

We wanted a way to create cashflow with our large corporate clients, who have stringent, hard to manage payment terms.

What were the things that worried you about factoring?

The main concern was cost and also the speed at which we would receive funds

Has factoring with Asset Factors been helpful to you in solving your challenge, and/or growing your business?

Absolutely. The transparency in which it occurs is great

How have you found working with Asset Factors?

Fantastic. We cannot fault how very responsive and flexible working with Claire, and Asset Factors, has been.

What was your business challenge that lead you to factoring?

We were a growing company and needed extra funds to expand growth, gain consents etc, to move on to our next stage of  business.

What were the things that worried you about factoring?

Being able to deal with our own customers still, which we were able to do.

Has factoring with Asset Factors been helpful to you in solving your challenge, and/or growing your business?

Asset Factors have been very helpful in growing our business.

How have you found working with Asset Factors?

Very good.  Always been very helpful, nothing is ever too difficult. Factoring is simple, and easy to manage, with the bonus of no security over other assets other than the ledger.

How It Works

Send invoice

Send an invoice to your client and us at the same time

80% Paid

We approve the invoice and pay up to 80% - same day

Client pays

Your client settles the invoice when its due

We pay you

We release the remaining funds to you

Say hello to

Consistent Cashflow

Invoice financing, or invoice factoring, is an option that is growing 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.

✔ Quick Turn Around

We can pay out up to 80% of your approved invoices on the same day you send to your client

✔ No Assets Required

Instead of assets you can use your debtors, your customer invoices, as collateral.

✔ Growth Focused

We help provide you the cashflow needed to grow your business.

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.

We tailor an

Invoice Finance Facility to you

We tailor a facility to suit your specific business needs and adapt with you as your business changes – through the seasons and as new opportunities arise.

We assist small to medium businesses who provide goods and services to other businesses on credit terms.

Some of our specialty areas include:

  • Construction
  • Roading
  • Concreting
  • Trades
  • Manufacturers
  • Labour Hire
  • Transport
  • Food Wholesalers
  • Panelbeaters
  • Logistics

If you are a business, invoicing other businesses, we can help you!

Sick of waiting until the 20th of the month or being paid 60 or 90 days from when you invoice? With Invoice Factoring now everyday can be like the 20th of the month. Get access to funds when you invoice without the huge wait for clients to pay.Invoice Factoring with Asset Factors

Frequently Asked Questions

How does it work?

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.

What businesses are suitable for invoice factoring?

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.

What security would I need to provide?

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.

Invoice Factoring & Invoice Finance

Do I need to submit all of my invoices?

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.

Do my customers need to know that I am factoring?

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.

What does it cost?

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.

Here to Help

Growth Focused

Let Your Ideas Shine

Solve Financial Problems

Trusted & Experienced

About Us &

What We Do

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.

Get in touch

Find out more

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