While you can request to exclude specific customers, you should provide all of your invoices for factoring.
There is no minimum sign-up period unless specified in the agreement.
You can exit at any time just by allowing the facility to repay.
Invoices are funded up to 90 days from the invoice due date. After this point the funding is removed from that invoice and a new invoice or cash is required to cover the shortfall.
Factoring facilities are disclosed so customers must be notified of the relationship. We help with this process. In some cases we can offer undisclosed invoice finance to qualifying customers.
We charge on administration fee based on the level of turnover provided. This may range from 1-5%
We charge an interest rate similar to that of a bank overdraft, this is charged on what you borrow only.
If all information is provided, we should be able to settle your facility within 48 hours.
We will consider any turnover.
We are happy to fund start-up businesses – the only requirement is that you must have issued some invoices already.
The remaining 20% is made available to you when the invoice is paid.
No, you choose what to borrow and only get charged interest accordingly.
We set up a new bank account for you. Your customers pay into this.
You are required to notify us and deposit the amount to your factoring bank account.
You are provided with your own bank account which you can view and allocate direct credits from.
You are provided with up-to-date ledger information via the client portal on our website and daily electronic reports.
You send the invoices, while we send the statements and reminder letters.
These can be sent on your letterhead if you prefer.
In some cases we can offer undisclosed invoice finance to qualifying customers.
With an undisclosed facility we provide a funding line to 80% of the value of your debtor book, without your customers ever knowing you are factoring.
On an ongoing basis your overall balances are submitted to us to make funding available, but you are still responsible for the collections and your customers are not aware of the relationship.
This is a very versatile product generally reserved for high turnover clients with a strong trading history.
The following invoices generally cannot be funded:
We do not require personal assets for security. We fund your business by taking the following:
A General Security Agreement – This is a registered charge that sits on your business.
A Factoring Agreement – This is a contractual agreement assigning all of your invoices to us while defining the rules of the facility.
Personal Guarantee – Personal Guarantees will be required from major shareholder directors. As we only fund to the value of invoices, this guarantee will only be called on in an instance of fraud.
Invoice Factoring NZ 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 Invoice Factoring NZ 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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