Invoice finance alternative up to $500k for New Zealand SMEs

Do you use invoice discounting to improve your business cashflow? We offer a more flexible approach to releasing working capital

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Working capital loans for SMEs

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What is invoice finance?

Invoice finance, often referred to as invoice factoring or invoice discounting, unlocks cash from unpaid invoices in the sales ledger. A third party, the factor, effectively buys the invoices for a discounted amount.

Because the factor usually pays within 24 hours of the invoice being raised, the business gets paid for work done as soon as it bills. This can be a huge cashflow benefit, providing working capital that can be invested in the business.

Flexibility and convenience are commonly promoted features of invoice finance. An unsecured business loan from Spotcap offers similar benefits, with the extra advantage of being entirely independent of the sales ledger.

What is invoice finance?

Invoice finance, often referred to as invoice factoring or invoice discounting, unlocks cash from unpaid invoices in the sales ledger. A third party, the factor, effectively buys the invoices for a discounted amount.

Because the factor usually pays within 24 hours of the invoice being raised, the business gets paid for work done as soon as it bills. This can be a huge cashflow benefit, providing working capital that can be invested in the business.

Flexibility and convenience are commonly promoted features of invoice finance. An unsecured business loan from Spotcap offers similar benefits, with the extra advantage of being entirely independent of the sales ledger.

Could a Spotcap business loan be your alternative to invoice finance?

Invoice discounting offers a convenient route to raising funds. So too does a Spotcap loan which you can use to:

  • Protect your bank balance

    Significant payments, like your payroll or a tax bill, can put real pressure on your bank balance. A Spotcap loan is a more flexible solution than invoice finance when it comes to boosting your working capital

  • Upgrade your technology

    Keeping up with innovation can give your business genuine competitive advantage. Short-term finance allows you to invest in areas such as online retail, digital marketing and the Internet of Things

  • Finance a business reorganisation

    There’s a cost to making change in your business and while previously you may have addressed this using invoice finance, you can now choose the more flexible option of a Spotcap loan

  • Invest in a new promotional campaign

    An unsecured loan can supply the funds needed to set up and deliver a marketing programme. Our loans make it easy for you to save on interest costs because we don’t charge a fee if you repay early

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How does invoice finance compare with a Spotcap business loan?

Invoice factoring allows businesses to improve their working capital and cashflow with the convenience of being secured on work that’s already been completed for customers. However, it usually requires entering into a contract with the factor, which can introduce some limiting terms.

The benefits of a Spotcap loan compared to invoice finance include:

  • We don’t ask for property or other asset security.
  • You can repay early without penalty fees.
  • You remain in full control of your cashflow, your sales ledger and your profits.

As a result of our unique credit review process which allows us to quickly assess the financial condition of your business, we are able to offer finance that’s unsecured.

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What you need to know about our invoice finance alternative

The loan amount

Your business could borrow between $10k and $500k. We don’t ask for personal asset security.

The loan terms

You only pay for what you borrow, so there’s no charge if you’re approved for a credit line you don’t use. When you do draw down funds, repayments are usually over 1 to 36 months

The criteria to qualify

We review your recent business performance. Our loans are available to businesses registered and operating in New Zealand with a minimum turnover of $200k that have been operational for at least 18 months and have a New Zealand online bank account

The interest rates

The business loan interest rate we charge reflects market conditions and your recent business performance. Our business loan calculator lets you estimate monthly repayments and interest costs

Spotcap loan repayment calculator

  • Amount
    $ 125,000
  • Time
    6 months

$14,951

Monthly Repayment

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For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Monthly Repayment

$14,951

  • Amount
    $ 125,000
  • Time
    6 months
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For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

How to request the Spotcap alternative to invoice finance

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Sign up

Begin our online application process by entering basic business and personal information

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Complete the application

Link your accounting software and online bank account or upload financial statements to complete your loan application

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Get approval

Once approved, you'll have access to your loan funds within 24 hours

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