Octet Business Loans

For over a decade, Octet has been focused on providing businesses with the tools and financial capacity to help power their growth. Whether it’s paying your suppliers more efficiently or getting more value out of your invoices, Octet offers various solutions that take the hassle out of managing your business’s supply chain and cashflow.

Octet business loans - what you need to know

Thinking of getting a business line of credit but unsure exactly how much you need? Octet provides access to a range of funding options including invoice finance and trade finance with flexible working capital facilities to suit your business needs. 

Interested in finding out more? Check out the features, fees, rates and processes involved with an Octet Invoice Finance solution below. 

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FAQs about Octet

How are Octet’s interest rates determined? 

When it comes to interest rates Octet keeps things simple, with rates starting from 6% p.a. for both its invoice finance and trade finance products. And the good news with trade finance is, you’ll get up to 60 days interest-free and up to 120 days for repayment. 

What fees are there?

Besides the interest rate, both Octet products also come with an application fee. Plus, you’ll need to factor in ongoing service fees: for invoice finance, this is calculated as a percentage of the invoices processed, while for trade finance, it’s a transaction fee every time you use the facility. 

How does the Octet approval process work? 

The business world moves rapidly, so Octet promises an application process that takes just two minutes as well as fast approval speeds.

With invoice finance, you can expect to hear back about approval in less than 24 hours. Once approved, it’s just a matter of uploading your invoices and you’ll have access to up to 85% of your invoice funds in 24 hours. 

Similarly with trade finance, Octet strives to give approval within 24 hours. Once you’ve been approved for your facility, your funds may take up to two days to arrive. After that, you won’t need to wait another minute before accessing the line of credit to pay suppliers across 68 countries.

What do I need to be eligible? 

Depending on which Octet finance option you go with, there are a few boxes you’ll need to tick as a business. 

To qualify for its invoice finance facility, you must be in an industry that provides proof of debt, have more than one business-to-business client on your receivables ledge, and also have an appropriate spread of customers. Ideally, your business would have a turnover of at least $1 million, with 1-2 years of trading experience under its belt, but Octet encourages any business turning over $500,000 or more a year to get in touch. 

Meanwhile, for its trade finance facility, Octet says it approves applications based on each business’s individual circumstances. But generally speaking, your business will need to be based in Australia, turn over at least $3 million annually, have earned a profit in the last 2-3 financial reporting periods and hold a positive balance sheet net worth.

What features should I know about?
Funding from $100,000 to $10 million

Octet’s products are packed with flexibility to suit enterprises both big and small. Its invoice finance solution comes with tailored facilities ranging from as little as $100k all the way up to $10 million, so no matter whether you’re a startup, an established organisation or a business in difficulty, there could be an option for you. Its trade finance facilities are also customised to fit your unique business needs, with funding that can go from $200k up to $7 million.

Fast 24 hour approval

Say goodbye to spending hours on paperwork and weeks on waiting for approval. Octet promises an application process takes as little as two minutes. Businesses may only need to wait for 24 hours before hearing back and getting approval, after which they’ll receive funding in as little as 24-48 hours.

Secure transactions 

Octet is serious about security and bringing peace of mind to its customers. All its information systems are certified with best-in-market practices. Plus, Octet verifies every stage of every transaction, giving you confidence that your money’s going where it’s meant to go. It also extensively verifies all members who transact on its platform, so you can rest assured that your trading partner is legitimate. 

Earn rewards like Qantas Points 

If you love being rewarded for using a product, you’ll be pleased to know Octet delivers on those extra perks. When you use its trade finance facility, you can earn 1 Qantas Point for every $10 settled. That means for $1 million settled, you would earn 100,000 points - enough for an economy return flight from Sydney to Hong Kong.

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