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Overview

What is invoice finance?

Invoice finance is short-term funding used to improve the working capital and cash flow position of your business. Businesses that have large corporates as customers typically wait 30-90 days for their invoices to be paid. Invoice finance enables you to get paid immediately.

Is it difficult to get on Timelio?

Not at all, our platform is quick and easy to use and our online application process saves you time. Simply upload your invoice and get funds as early as the same day!

Is Timelio different to factoring?

Yes, we don’t require you to fund all of your invoices. You select the invoices you want to fund, to bring in exactly the amount of cash you need for your business. We offer flexible funding and you're not tied in to long-term contracts. There are no ongoing fees and you know exactly your cost of funding upfront. And importantly, we don't interfere with your customer relationship.

Do you offer purchase order finance?

Yes, if you have confirmed orders we can often combine purchase order finance with invoice finance to help you pay suppliers and fulfil your orders.

Can you fund my overseas invoices?

Yes, if you export and have overseas customers we can fund up to 90% of the invoice value.

 

Do you contact my customer?

No, we do not contact your customers. In certain instances, our transaction verification process may involve confirmation from your customer, but this will be led by you. Contact us to discuss how we can offer a confidential service.

 

Can I partner with Timelio?

Yes, we work with accountants, bookkeepers and finance brokers to provide funding solutions for their clients.

 

Application

Can I use Timelio?

Yes, if you invoice more than $10,000 per month with customers that are large corporates, government bodies or are insured and you need working capital to grow your business.

Do you have a minimum turnover requirement?

No, we've funded start-ups through to established and ASX businesses. We do require a minimum invoice size of $10,000 (talk to us about bundling smaller sized invoices for the one customer).

 

Do I need to have been in business for a minimum period of time?

No, we can fund newly formed businesses.

How long does it take to get funding?

The online application takes around 10 minutes to complete and can be approved within one business day if we have all the required information. Once you are approved on our platform, you can upload invoices and receive funding as quickly as the same day.

Do I need to have property to pledge as security?

No, we do not require you to own property to access our funding.

Can I use Timelio if I have other borrowings or ATO debt?

Yes, we do provide funding to businesses who have existing loans and ATO liabilities.

 

Funding

How much do I receive?

Up to 100% of the invoice value is advanced, less any fees. A Late Payment Reserve is withheld that is equal to one month’s discount fee and is refunded to you when the debtor pays on time.

What happens if an invoice is paid late?

The discount fee paid to investors accrues at a daily rate and will be adjusted accordingly. Any additional discount fee accrued after the expected payment date will be deducted from the Late Payment Reserve. For example, if the invoice is settled 15 days overdue, we hold 15 days and refund 15 days back to you.

What happens if my customer doesn’t pay the invoice?

Recourse is to you in the event of non-payment by the debtor. We can request re-payment of the invoice when it becomes 45 days overdue.

 

Is there a minimum contract lock-in period?

No, we do not have lock-in contracts and there are no exit fees. You can stop using our funding at any time.

What is the maximum amount of funding I can obtain?

We do not have maximum facility limits. The funding you can obtain is only limited by the amount of debtor invoices you have available.

I currently use an invoice finance facility. Can I switch to Timelio?

Yes, we can (and frequently do) facilitate businesses to switch from an existing invoice finance provider. Contact us to discuss how Timelio could work better for your business.

 

Fees

How much does it cost?

There are two fees:

- Transaction fee on each invoice funded
- Discount fee to Timelio investors, calculated daily

There are no other costs. The total cost of funding will be clearly presented before an invoice is funded and will depend on the invoice value and expected payment date. Get in touch and we'd be happy to give you pricing information specific to your business.

How much does it cost to apply?

There are no application fees, it’s free to apply.

What ongoing fees do you charge?

We do not charge a monthly management or admin fee. You only pay for the funding you obtain.

Are invoice finance costs fixed?

There are no fixed costs. As you build up an invoice trading history on our platform and investors see a history of repayment from your debtors, your cost of funding may reduce over time.

What companies can benefit from supply chain finance?

Companies that are looking to optimise working capital, improve margins, enhance supplier relationships or improve suppliers’ financial strength.

Who funds the supply chain finance program? Do you have a multi funder or single funder model?

We offer a flexible approach to funding your program. We have bank and non-bank funding partners, or we can work with your existing banking and finance relationships. Our platform caters to both single or multi funder models.

Is there an opportunity to self-fund my program?

Yes. Our platform enables you to fund all or part of your own program.

Are there any set-up costs?

No, we don’t charge any set-up costs or ongoing fees to run the program.

Are there any limits on funding volumes or number of suppliers?

No. Our platform enables you to offer early payment to your entire supply chain, no matter the volume or value of individual suppliers.

Which countries can you offer supply chain finance solutions?

We currently offer our services to Australian and New Zealand corporates and can make payments to international suppliers. If you are an international company, please contact us to see how we can help.

Is the program managed locally or offshore?

We are a local company and manage all our operation from Australia. We’re on the ground and are available to both you and your suppliers for ongoing support.

How do you encourage our suppliers to use the program?

We communicate with your suppliers directly by providing ongoing support both during and after the onboarding phase. Our team provide marketing and communications via messaging, webinar and demonstrations. Because of our uncomplicated and hassle-free approach, suppliers are generally quick to understand the offering.

Who can be an investor?

Wholesale investors, which includes:

• Institutional – those investing over AUD$500,000
• Sophisticated – net assets of over AUD$2.5m or income of AUD$250,000 and
• Professional investors – those holding an Australian Financial Services Licence or overseas equivalent.

What is involved in the registration and approval process?

1. Complete the online application
2. Return required proof of identity, address and certified investor level certificate from your accountant or AFSL number.
3. Once approved, investors will need to fund their account before investing.

Is there a minimum to fund my account?

Yes. We currently require investors to fund their accounts with a minimum of AUD$10,000.

What is the due diligence process in approving Sellers of invoices?

Before being approved to sell invoices on the platform, all invoice sellers undergo a rigorous credit assessment. Third party analytics and searches are used to further support our internal assessment. Only those businesses that successfully pass are approved to sell invoices on the platform. Before being made available for investment, each invoice and debtor will be verified and authenticated.

Is my investment secured against any assets of the invoice seller?

We register security interests on the Personal Property Securities Register (PPSR) on behalf of investors. Depending on the nature of the transaction, security is taken over the invoice, the business assets or personal guarantees. In some instances, all three may be taken as security.

What priority do I have if the seller goes out of business and the invoice has not been paid?

In the event an invoice is not paid, and the seller is no longer in business, investors will have the ability to recover proceeds as a secured creditor of the outstanding debt. Where additional security is taken, the investor may be a secured creditor over the businesses assets or the director’s personal assets.

What returns can I expect?

The return investors can earn varies depending on the underlying nature of the transaction as well as investor activity. Annualised net returns on the platform vary between 7.5% and 15% p.a. per transaction with less than 0.2% p.a. investment losses to date.

Do I receive notifications of my account balance and performance?

As a direct investor you will have access to your online portal to view your portfolio including trading history, current position and KPIs.

How is my return affected if an invoice is paid late?

The investor return is accrued on a daily basis. If an invoice is paid early or late, investor returns are adjusted accordingly, often with a minimum 30 day investment period.

What happens if the debtor does not pay?

All invoices sold on the platform are full recourse to the seller. They are responsible for following up their overdue invoices and if payment is not made within 45 days of the expected payment date, the seller is required to repay the investor.

Are there any fees to be an investor?

Our fee is 15% plus GST on discounts earned. There are no other fees or costs to the investor.

What does Timelio do with my data?

Some personal data is collected to satisfy ‘Anti-Money Laundering’ and ‘Know Your Customer’ requirements. It is used to verify applicants during the approval process and filed securely. Your personal data will not be used for any other purpose.

Who can be a Timelio Capital Fund investor?

The Fund is open to wholesale investors, which includes sophisticated, professional and institutional investors.

Is the Timelio Capital Fund regulated by ASIC?

The Fund operates as an unregistered managed investment scheme. The Fund manager, Timelio Fund Management Pty Ltd ACN 119 490 952, is an Australian Financial Services Licence (AFSL) holder number 323106, regulated by ASIC. Timelio Fund Management is a wholly owned subsidiary of Timelio Pty Ltd.

Is the Fund externally audited?

Yes, Timelio Capital Fund is audited annually by EY.

How secure is my money?

Investing in the Timelio Capital Fund carries risk. The Fund purchases discounted receivables from Australian businesses with no guarantee of payment. While we have controls and procedures in place to mitigate risk, losses may occur, and capital may be lost as a result. The value of your investment can go down as well as up.

What returns can I expect?

The Fund’s expected returns are 7-9% per year, net of fees.

Does the Fund invest in every invoice?

The Fund automatically receives a fixed allocation to every invoice available for sale on the platform. Provided the Fund has cash available to invest, the allocation is accepted by the Fund.

Do you use third party custodians?

The Fund does not currently use a third-party custodian.

What is the minimum amount required to invest in the fund?

The minimum amount to open a Timelio Capital Fund investor account is AUD$50,000 and subsequent subscriptions can be made in AUD$10,000 increments.

How often can I invest in and withdraw money from the Fund?

Subscriptions for new units can be made at the first day of each month. Requests for redeeming your cash from the Fund can be made quarterly (calendar year) with a 30 day notice period required.

Do I receive statements of my account balance and performance?

Account balances can be viewed online at any time. Each month the Fund Manager makes available the performance report to investors.

Is the invoice finance provided to businesses secured over any assets?

We are responsible for registering security interests on the Personal Property Securities Register (PPSR) on behalf of investors. Depending on the nature of the transaction, security is taken over the invoice, the businesses assets or personal guarantees. In some instances, all three may be taken as security.

Will the fund pay regular dividends?

The Fund distributes returns quarterly based on settled profits. These distributions can be taken in cash or reinvested into additional units.

What are the fees?

The Fund charges an annual management fee of 0.50% (plus GST), accrued daily and paid monthly to the Fund Manager.

Is there a prospectus or information memorandum?

An Information Memorandum is available upon request. Please contact investors@timelio.com.au for further information.

Is there a trust deed I can view?

We have a Trust Deed that is available to you. Please contact investors@timelio.com.au for further information.

 

David and his team have made this process from set up to management of each invoice simple and easy navigate. The website for managing the invoices is easy to use and provides all details required. The team are responsive to queries knowledgeable with their help and advice. Thanks Timelio Team!

NICKY STEELE

 

Setup is very easy and the Timelio team were extremely helpful throughout the entire process. Funding was approved and available within 24 hrs as promised. I would highly recommend Timelio.

MICHAEL BEGG

 

Timelio was the answer to our funding needs. They are willing to listen and recognise that not all businesses are the same! They took time to understand our business and our strategy. The service is easy to manage, responsive and flexible. The fees are clear and upfront.

ELAINE BURROWS

 

The Timelio platform has worked extremely well for my company. Every invoice we have submitted has been financed with a minimum of delay or fuss. I feel very willing to recommend it to any company that has solid invoices but needs to improve its cashflow.

TED GANNAN

 

Great alternative for new and coming companies to manage stock, receivables and growth. Fast and with good systems to make experience really smooth.

EMIR LOPEZ

 

We love Timelio and have been funding some of our biggest customers. The platform is easy to use and we get a quick turnaround with funds into our account. It has made our cashflow improve immensely. Their fees are the most competative in the market. I would not hesitate in recommending Timelio.

MELINDA MINA GNIOT

 

Timelio is not your average invoice factoring company. They are very innovative with their approach to lending - even with debtors funding. I am impressed with how efficient they are in pulling the deal together - they have taken my old funding partner and myself by surprise.

EDMOND TERN

 

We found Timelio at this years Xero conference, and it was very 'Timelio' if you get my drift. Within a week Charlotte and her team helped turn our cash flow problems around. Timelio is a very important partner in our business and we look forward to growing with you.

FLYNN DUNTON

 

Timelio is a truly unique financial service that will work close with your business to achieve its goals and assist with growth. Coming from a history of using companies like Scottish Pacific and Bibby financial services I can clearly state that Timelio is a much more business friendly and well structured institue with no hidden charges and uncertainties. 

DAVID FREEMAN

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