Thornmoney invoice finance

Thornmoney logo

Thornmoney offers a line of credit secured against your unpaid invoices, helping businesses get the funding they need when they need it. With an easy to use platform, no lock-in contracts and finance amounts ranging from $10,000 to $2 million, you’ll have plenty of cash flow to cover everyday expenses or take advantage of opportunities to grow.

Thornmoney business loans - what you need to know

Thinking of accessing funding for your business but not sure how much you need exactly? Thornmoney allows flexible borrowing that might fit your needs. Check out the features, fees, rates and processes that are involved with a Thornmoney invoice finance facility below.

FAQs about Thornmoney

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How are interest rates determined?

You’ll receive a 3% interest rate for the first 90 days. After that, variable rates start from 6% p.a. and are tailored to individual businesses. The exact rate you’ll receive will depend on a few things, such as the financial health of your business and the size of the loan facility.

Are there any fees?

While fees have been kept to a minimum, new customers will still have to pay a set up fee. And once the invoice finance facility is up and running, a transaction fee will apply for each invoice funded.

Will customers know I’m using invoice finance?

Some invoice finance companies purchase your invoices and take over collections on your behalf. This can alert customers to your need for funding. In contrast, Thornmoney invoice finance facility is confidential, meaning the process remains invisible to your customers and they won’t be contacted by any third parties.

Which businesses are eligible?

Businesses will need to tick the following boxes to be eligible for Thornmoney’s invoice finance facility:

  • Hold an ABN or ACN

  • Have been trading for more than 9 months

  • Raise invoices with Australian businesses

  • Invoice after work is completed

What features should I know about?

Same day funding

Thornmoney’s application process can be completed in just a few short minutes and customers can find out if they’ve been approved within a day. If your business’s application is successful, funds will arrive in your account within 24 hours.

Software integration

Businesses will be able to connect their accounting software of choice (such as Xero, MYOB, Quickbooks and Oracle Netsuite). Once set up, they can choose which customers in their ledger to include and leave out the invoices that they expect to be settled quickly.

Only pay for what you use

Businesses will only pay interest and transaction fees on the funds they draw down, rather than the available limit.