Invoice Factoring
Factoring gives you immediate access to money that you can reinvest in your business!
New to Working Capital Finance?
Fill out the Registration Form and we will get back to you
New Invoices to be Sold?
Fill out the Factoring Service Request Form and we will get back to you
Smash Repair Completed?
Fill out the Vehicle Collection and Clearance Form if the insurer does not have oneAre you a smash repairer with tight cash flow?
Are you completing insurance work but not being paid for it for days or even weeks?
It shouldn’t be this way and with our invoice factoring service, it doesn’t have to be.
At Working Capital Finance, we’ll buy your invoices from you and pay you for them straight away. Invoices for debts owing to you are assets you can sell like any other assets of your business. Factoring is just selling these debts at a small discount to their full value. Factoring (or selling your insurance invoices) gives you immediate access to money that you can reinvest in your business. Buy parts, complete jobs and create repeat customers. With our fast invoice factoring service, it’s easy!
How Invoice Factoring Works for Auto Businesses
When panel beaters, mechanics or auto shops take on insurance work, the process usually goes like this:
- You send a quote for repair work to the insurance company
- The insurance company accepts the quote and you begin work
- When the repair is complete you prepare your repair invoice and send it to the insurer for payment
- You wait days or even weeks for the insurer to pay you
- Meanwhile, you can’t use that cash to buy more parts, pay other suppliers or wages, complete repairs or create happy customers
V/S
With our invoice factoring process, the process works like this:
- Once the repair is completed you send the invoice to Working Capital Finance
- We pay you the full invoice immediately minus a small processing or factoring fee (1.75% if the invoice is over $20,000 or 2% if its below down to a Minimum Fee of $40 flat fee)
- You reinvest this money in your business, buying parts, paying suppliers, completing repairs and creating repeat customers
- We take ownership of the invoice and collect the money from the insurance company. It's our job to chase the insurer for payment, not yours. You can get on with your busines
About Our Invoice Factoring Company
Kim Jacobs and the team at Working Capital Finance are experienced professional factoring specialists who focus on invoice factoring for Australia’s smash repairers. With a strong success rate and a long history, we help smash repairers generate crucial cash flow when they need it most.
Get Started with Fast Invoice Factoring
Do you want access to your money now? Follow our five easy steps to factoring or contact us today.
Get Started with Fast Invoice Factoring
Do you want access to your money now? Follow our five easy steps to factoring