Waddle Business Loans

Founded in 2014 and based in Sydney, Waddle provides invoice financing to small and medium-sized Australian businesses with an innovative cash flow platform that connects with leading accounting packages. In 2020, Waddle was acquired by global accounting software platform, Xero.

Waddle business loans - what you need to know

Looking for a faster way to access the money your business is owed from invoices that are yet to be paid? That’s where Waddle comes in, with invoice financing solutions designed to help businesses boost their cash flow. So if you’re interested in learning more, check out Waddle’s rates, fees and the requirements involved in the table below.  

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FAQs about Waddle

What are Waddle’s interest rates?  

Waddle offers customised interest rates to its business customers which fall between a range of 6% - 11% p.a. The exact rate a business will receive is based on several factors: the financial health of the business, the industry it’s in and the size of the actual loan facility. 

Are there any fees involved? 

Aside from the interest rate, the only other cost businesses will need to consider is the Draw Down Fee. This is the fee Waddle charges when you actually ‘draw down’ on the funds available and it can range from 0.50% - 1.50% of the transaction. 

How quickly can I receive funds? 

Waddle says it aims to make sure funds are available to businesses within 48 hours, though if you’re a new customer, you’ll obviously have to go through an application and approvals process first. 

Which businesses are eligible? 

Waddle caters to a range of businesses in different industries, though there are a couple of general requirements it says businesses will need to meet. These include: 

  • A minimum of 6 months trading 

  • A minimum $10,000 annual turnover 

  • The business must be incorporated (eg. Pty Ltd)

  • The business invoices other Australian businesses

What features should I know about?

Borrow between $10k and $4 million 

Waddle offers finance from as little as $10,000 all the way up to $4,000,000, though the exact amount of credit available to each business will depend on a number of factors including the value of their outstanding invoices. 

Fast funding

Waddle says that once it has all the information it needs, new business customers will be able to access funds in as little as 48 hours. 

Software integration 

Businesses can link up their accounting software of choice (including Xero, MYOB and Quickbooks) with Waddle’s platform. This may not only make the application process easier, it allows Waddle to keep updating their customers as to which new invoices are able to be financed. 

Pay for what you use 

Waddle offers its customers a line of credit which provides access to up to 80% of the value of their unpaid invoices. But businesses will only need to pay interest and a draw down fee on what they actually use, rather than the entire ‘available limit’. 

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