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Cash Flow Management

Do you have slow paying customers?
Have you considered Invoice Financing to help with your cash flow?

Invoice finance is a general term used for asset based lending products that allow companies to finance slow-paying accounts receivable.

CREDIT APPLICATION SUPPORTING INFORMATION CHECKLIST

To assist with your preparation & decision, as part of the application process you will need to provide the following items.

o Signed Privacy Disclosure and Consent
o Aged Debtors listing (current)
o Aged Creditors listing (current)
o Last year’s financial statements (inc ‘final’ Profit and Loss, Balance Sheet)
o Customer Application form (signed)
o Last 3 month’s management accounts (ie current Profit & Loss and Balance Sheet position)
o Running Balance Account (RBA)/ Statement provided by the ATO. (nb sourced via ATO portal from accountant)
o Terms and conditions of trade agreement
o Copy of bank accounts and statements detailing track record of payments from current debtors
o Details of any registered interests on the Personal Property Securities Register
o Two forms of identification relating to the company’s Director/Trustee eg Passport, driver’s licence, birth certificate
o Copy of the Trust Deed (if Director is the Trustee of a Trust)

To be provided following Application approval (pre funding);

o Copy of invoice(s) to be financed
o Payment History Report for the debtor/s
o Debtor’s ABN and contact details

Please note, the following is required once funding has taken place for the life of the facility;

o Ongoing “View only user” bank account access
o Accounting software view only access
o Permission to contact your accountant
o ATO RBA statements quarterly access
o Monthly on-site (client office/site) review meetings