Invoice discounting or Invoice factoring is a working capital solution that gives you advances on cash you’re due from insurance companies. Rather than waiting for insurance companies to pay your invoices, you can access the money now and invest that cash in your business’s growth.
Invoice discounting works by selling your invoices to Working Capital Finance. We then pay you the full amount of the invoice minus a factoring fee, giving you the power to grow your business and create repeat customers.
How Invoice Discounting Finance Works for You
At Working Capital Finance, our invoice discounting service focuses solely on Australia’s smash repair industry. We provide our services for:
Paint & Panel Shops
Without Invoice Discounting…
Usually, once your repair has been completed and invoiced to the insurance company, it takes days or even weeks to be paid to you.. In the meantime, you don’t have the money to buy parts, perform repairs and keep your customers happy.
With Invoice Discounting
When you sell your invoice to Working Capital Finance, we pay you that same day, meaning you can buy your parts, complete your work and create return customers. It’s a smooth and hassle-free process for everyone!
The only money we take is a small processing or factoring fee that is deducted off the value of your invoice that we are paying to you.. We only charge the higher of 1.75% of the invoice or an $80 flat fee. The rest of the invoice is paid straight to you with no other fees or charges! If your invoice is over $20,000 we only deduct a 1.6% factoring fee and pay you the rest of the value of your invoice.