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RELEASE The provision of easy-to-access Debtor Finance for O.E. car parts makers is proving a big winner in the manufacturing industry. Business funding specialist, Oxford Funding, has found such makers have a common cash flow problem - most have their debtor ledger dependent on a very small number of huge companies all of which are experts at stretching payment. Oxford Funding’s product called Invoice Xcelerator is a non-recourse Debtor Finance product which provides 90 percent funding against Accounts Receivable within 24 hours of delivery. When the debtor pays, the remaining 10 percent is refunded, less a small fee. If the customers cannot pay, Oxford Funding takes the risk. As well as providing cash flow, this all-new product provides an alternative to trade credit insurance without annual premiums and long term contracts. Unlike other financial institutions, Oxford Funding does not have a strict policy of restricting funding if a debtor is more than 30 percent of the ledger. In fact Oxford will even fund a single debtor. Invoice Xcelerator is available with flexibility where the facility grows with the client paying for only what is needed, whether regularly, irregularly or a once-off. Clients choose which invoices they wish to finance and obtain credit protection, depending upon their circumstances. They can save money and are in control. ‘The advantages of Invoice Xcelerator includes true flexibility where we can provide funding and credit protection against just one or all of a company’s customers. And that opens up a new era into this industry in Australia.’ says Oxford Funding’s Rob Lamers. ‘Invoice Xcelerator has introduced a new way such businesses can now expand without the stress of being paid.’ Lamers said. Oxford Funding is a wholly owned subsidiary of Bendigo Bank. ENDS Contact Oxford
Funding on 1800 850 509 or www.oxfordfunding.com.au |
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