Forget ‘factoring’ & ‘discounting! Forget ‘receivables’ financing!
Discover the unique benefits of ‘Fee Funding’
What is Fee Funding?
Managing cash flow is critical for any business, irrespective of the economic cycle. In addition, important people resources are distracted from core business activity sorting debtor management issues.
With Fee Funding, your firm receives 100% of the Tax Invoice being funded and your clients pay by monthly instalments, including interest costs. The funder manages the monthly ‘client instalments’.
Many of your clients would be familiar with this type of service as they would be using ‘insurance premium’ funding.
What are the benefits of Fee Funding?
The upside for your firm is money in the bank within 7 or so business days; enhanced cash flow; no debtor management distractions; and staff allowed to focus on core business activities.
It’s important to recognise that Fee Funding is ‘limited security’ funding, with ‘recourse’ against the professional firm for any client ‘instalment defaults’. ‘Recourse’ is viewed as back-up security for the funder.
As such, the funder will assess applications on the basis that the client, not the professional firm, can repay the loan.
Longevity of accessing Fee Funding is about building a relationship with the funder, plus professional firms ensuring their clients have a healthy attitude towards meeting their repayment obligations.
Funders will typically approve an initial ‘funding cap’ for the professional firm and work to increase this ‘cap’ as a successful relationship develops.
There are several prudent steps that can be adopted to ensure continuity of your Fee Funding facility. Feel free to chat with us at any stage about these steps. Also click here for helpful hints on debtor management.
Next steps
There is no cost to your firm to establish a Fee Funding facility. To proceed, click here to access and complete the online Enquiry Form.
Based on the information provided, we’ll be able to assess which combination of funders will best suit your needs as it's smart to have at least two fee funder relationships.
About Fee Funding Australia Pty Ltd (ABN 22 127 779 006) (‘FFA’)
Our origins date back to 2001 when the founder assisted in the development of the ProFee Australia offering, now owned by Wesfarmers Limited.
In difference to others, FFA has enjoyed 10+ continous years in providing fee funding solutions and is today the only fee funding provider who represents three different fee funders. This is important as each of the fee funders have different acceptance criteria.
Contact details
Phone: 1300 731 817 Fax: 1300 739 817 Email: fees@feefunding.com.au
Office: 43 Victoria Street McMahons Point NSW 2060 Postal: PO Box 7100 McMahons Point NSW 2060