OUR SOLUTIONWe work with suppliers to high credit customers to provide faster invoice payments. High credit customers include public companies, large private enterprises, government, public service and other large institutions. Our solution means no waiting for invoices to be paid, better cash flow management and increased production capacity.
WHAT IS INVOICE FINANCE?Whether you call it supply chain finance, debtor finance or even factoring, invoice finance allows you to access the capital from your accounts receivable. Our solution is selective invoice funding, in that you can choose which approved invoices you want to fund, when you want to fund and what percentage.
WHAT WILL INVOICE FINANCE ALLOW ME TO DO?
Better fund and forecast growth
Know exactly when you will be paid, allowing you greater control of your finances
Ensure you can meet the financial obligations of your business
Improve administrative efficiency with our simple one step upload system
HOW IS APRICITY FINANCE DIFFERENT?Apricity Finance advances businesses on average 20% more of the value of invoices compared with other debtor finance or factoring businesses. Our supply chain finance solution has been developed to meet the specific needs of any business that supplies goods or services to major businesses, institutions or government bodies. Compare the difference below!
COMPARE THE DIFFERENCE
|APRICITY INVOICE FINANCE||OTHER PROVIDERS|
|Amount financed||We finance up to 95% of the value of approved invoices.||Most other factoring businesses will only pay around 80-85% of invoice value – often less. Banks will sometimes provide up to 80% of your outstanding invoice amounts, depending on your company’s overall debt levels.|
|FLEXIBILITY||Apricity allows you to choose which invoices to fund, at what time and what percentage. For example, you may choose to only fund 50% or 70% of your invoice (up to 95%). Once your invoices are approved, it’s totally up to you.||Many factoring firms will want to fund all your invoices, meaning you will be paying interest on your entire accounts receivable. With most banks, flexibility comes at a price. Generally speaking, the greater the flexibility, the higher your interest payments. In comparison, flexibility is central to our offering.|
|Security required||In most instances, the only security we require are the invoices themselves. This is why we only fund invoices issued to high credit customers.||Most other factoring businesses require a first or subsequent GSA (supported by bank waiver releasing receivable’s to Factoring company). Banks will usually require security from you via a mortgage over land or other assets and a GSA. This means if you run into financial difficulties, the bank can take possession and sell your property.|
|Fees & charges||Apricity has one application fee for the life of your facility and no ongoing administration costs. The application fee is deducted the first time you use the facility. Up to 95% of the invoice will be paid to your account upon approval. Our interest fees are deducted from the 5% held back. The balance is payable to our customers upon settlement of the invoice.||Although fees and charges vary, we have seen some hefty cost examples, including one for a ‘periodic review’ charge of AU$2,200. These reviews will usually happen twice a year. Of course, this charge is often buried deep within a long letter of offer, so you may not even notice it until you are hit with the first review cost.|
|CONCENTRATION LIMITS||Concentration risk is a term describing how lenders' funds are spread across different debtors and industries. Concentration limits are set when the lender decides how much lending exposure they can have to any one debtor or industry. Given our independent ownership, at Apricity we can set our own limits||While we can’t speak for everyone in our space, we know that concentration limits are a frequent reason why our clients have moved to our model from one of our competitors. No offence. We prefer us too.|
|Contract terms||We have no lock-in contracts. Once you become an approved Apricity customer, you can choose when to use us, which invoices and what percentage to fund (up to 95%). We’re here for you when you need us.||We have seen contracts of 100 pages and more. Often companies are hit with huge break fees if they decide to go with another provider. We would never treat our customers this way. Thankfully this rarely happens anyway.|
|People||We offer a personalised service. We are a boutique amongst giants, which means we don’t have large sales teams working slavishly to meet corporate budgets. We prefer to maintain a close, friendly relationship with our clients, and we will always put their interests at the forefront of our decision making.||We know there are some great people out there. If you are reading this – come and work with us.|