Marmalade invoice factoring
- Upfront Fee
- 3–5.5% fee per invoice
- Max. Loan Amount
- $4,000,000
- Loan Term
- From 1 month
Summary
Keep your business growing without debt and without waiting for your customers to pay their invoices.
3 things to consider about invoice finance:
- You choose which invoices get paid early, any time before they’re due
- You can receive the funds within 24 hours
- Because it’s not a loan, it does not affect your credit score
Pros
-
No need to wait for customers to pay your invoice to receive the cash
-
Connects to your accounting software
-
Receive the funds within 24 hours of choosing the invoice you want paid
-
Does not affect your credit score
Cons
-
A fee of 3–5% for each invoice that’s paid out
-
Not for businesses that offer less than $30,000 of invoices per month
-
You must invoice all of your customers through Marmalade
-
There is a limit on how much you can access depending on your last 3 months of invoices.
Details
Product details
| Product Name | Marmalade Invoice Factoring |
| Min. Loan Amount | $1,000 |
| Max. Loan Amount | $4,000,000 |
| Loan Security | Secured |
| Upfront Fee | 3–5.5% fee per invoice |
| Loan Term | From 1 month |
How does Marmalade invoice financing work?
Marmalade connects to your account-keeping software so it has access to all of your outgoing invoices. You can then choose an invoice (or several invoices) on the Marmalade software, which you would like to be paid out early.
Marmalade takes over the credit risk of the invoice and your customers then pay directly to Marmalade. There is a small fee payable, which is subtracted from the invoice payment Marmalade sends you.
It does not affect your credit score as the money is not a loan – it works as an early payment of the invoice. You can then continue to grow your business and order supplies without waiting for the payments to be made.
Pros and cons of invoice finance:
Pros:
- No need to wait for customers to pay your invoice to receive the cash
- Connects to your accounting software
- Receive the funds within 24 hours of choosing the invoice you want paid
- Does not affect your credit score
Cons
- A fee of 3–5% for each invoice that's paid out
- Not for businesses that offer less than $30,000 of invoices per month
- You must invoice all of your customers through Marmalade
- There is a limit on how much you can access depending on your last 3 months of invoices.
What can Marmalade's invoice financing be used for?
Marmalade invoice financing can be used for businesses that need consistent, ongoing cash flow to grow over the next year. It cannot be used for businesses that need one-off amounts of cash.
How to apply:
Click on the button to get started with Marmalade. You will then be asked to check your business against the eligibility criteria. If you are eligible, you can begin to create your Marmalade account.
Features of Marmalade's invoice financing:
- Get paid early. You can receive funds within 24 hours of selecting the invoice rather than waiting for your customers to pay.
- Access to accounts. Marmalade is connected to your account-keeping service so you can just select the invoice you want paid out early.
- No credit risk. Because Marmalade takes on the credit risk of your customer, there's no risk to your own credit.
- No chasing invoices. Marmalade will also handle chasing up your customers for any unpaid invoices.
- Online system. You can use the online interface to stay on top of your invoices and the cash that's moving through your business.
- Fees. There are no account-keeping fees or other hidden charges, but there is a fee of 3–5.5% per invoice, depending on the amount paid out.
How much does Marmalade's invoice financing cost?
There's a 3–5.5% fee per invoice, depending on the amount. This amount is subtracted from the total invoice amount and you are sent the remainder.
For instance, if the invoice amounts total $2,000 and the fee is 5.5%, you'll receive a payment of $1,890, with Marmalade retaining the 5.5% fee ($110).
Eligibility criteria:
- You must use Xero or QuickBooks for all invoices. You must have done so for the past 90 days.
- When you issue an invoice, it must be due and payable, not requiring any further customer approval.
- You must provide payment terms to your customers of up to 60 days.
- You mostly invoice Australian businesses, not individuals.
- You have more than 5 regular customers that you invoice at least monthly.
- You consistently invoice more than $50,000 per month.
- Your maximum invoice size is $50,000.
- Your customers provide timely remittance advice if they make a bulk invoice payment.
- You will use Marmalade as the only payment method on all your invoices moving forward.
Your reviews
Rebecca Finder
Senior writer
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Rebecca Pike Finder
November 24, 2023
Hi Alice,
As a comparison site we provide information and reviews on loan products but we’re not affiliated with Marmalade itself so I’m unable to pass your details on to anyone. The only contact details I have for the company is through their Contact Us page here: https://www.withmarmalade.com.au/contact
I’m sorry you’ve been unable to speak to anyone so far, but I hope you can get in touch with someone soon.
Rebecca
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Brian
June 30, 2023
When a cash-in request is made for a specific invoice/s, is the full amount of the invoice paid to us by Marmalade and thereafter a separate collecton fee charged of between 3-5%, or is the collection fee offset against the invoice value with the net amount being remitted ?
Sarah Megginson Finder
July 03, 2023
Hi Brian,
The collection fee is taken out of the invoice amount, and you’re paid the remainder.
For instance, if the invoice amount is $1000 and the cash-out fee is 5%, you’ll be paid $950.
Hope this helps!
Alice
November 24, 2023
Hi Rebecca,
I have been trying to reach out to your team via phone call but nobody is getting back to me.
Could you please kindly provide me with a contact i could call to speak to one of your customer service manager? or give me a call directly 0 417 450 914
Kind Regards,
Alice
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