Business loans & working capital
Assessed on how you trade, not only on what you own
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Overview
Draw up to 85% of the value of your approved invoices within 24 hours of issuing them, and receive the balance less our fee when your customer pays.
Choose confidential invoice discounting, where your customers deal only with you, or full factoring where we manage collections on your behalf.
Why HBI
A bank that reads your interim financial statements
Business banking at HBI starts from how you trade. We look at cash conversion, customer quality and the people running the business, not only at what could be pledged as security.
From the Growth tier upward you deal with a named banker who knows your file. They have a direct line and a published response time, and they stay with the relationship as the business grows.
What you get
Everything that is included
The full list, not the highlights. If something is not here, it is not included.
Features
- Facilities from $100,000 to $10 million
- Advance rates of 70% to 85% depending on customer concentration and industry
- Selective invoice finance on single invoices, with no whole-book commitment
- Credit protection on approved customers, optional
- Direct feed from QuickBooks, Xero and NetSuite for daily reconciliation
- Export receivables accepted in six currencies
What you need to qualify
- Business-to-business invoicing with credit terms
- Minimum annual revenue of $1 million
- Receivables with no single customer above 40%, in most cases
- Twelve months in business and an accounts receivable aging report
Not sure you qualify?Speak to a banker before applying. A conversation costs nothing and does not touch your credit report.
Pricing
Fees & rates
Published here, and the same figure you will see in your quotation.
| Facility | Advance rate | Discount charge | Service fee |
|---|---|---|---|
| Confidential discounting | Up to 85% | Prime + 2.5% | 0.35% of revenue |
| Full factoring | Up to 85% | Prime + 3.0% | 0.85% of revenue |
| Selective (single invoice) | Up to 80% | Prime + 4.0% | 1.25% per invoice |
| Export receivables | Up to 75% | Prime + 3.5% | 1.00% of revenue |
Fees and rates are reviewed annually and published at least 30 days before any change takes effect. Terms and conditions apply.
Good to know
How we look after you
Three commitments that apply to every business product, this one included.
Controls come switched on
Dual authorization, account verification and user permissions are the default on business profiles. You choose to relax them; you do not have to remember to add them.
Your data feeds your books
Daily statement feeds run to QuickBooks, Xero and NetSuite, and reconciliation files are available for anything else, so month end starts from matched figures.
Decisions come with reasons
When we decline or reduce a facility we explain why and what would change the answer, so the next application is a better one.
Questions
Questions clients actually ask
If yours is not here, a banker will answer it directly.
Not with confidential invoice discounting — they continue to pay you as usual. Factoring is disclosed, because we handle the collections.
Without credit protection the debt returns to you (recourse) after the agreed period, usually 90 days past due. With credit protection we carry the risk of an approved customer becoming insolvent.
No. Selective invoice finance lets you fund individual invoices. It costs more per invoice but carries no whole-book commitment.
Facility setup takes about two weeks including customer verification. After that, advances are made within 24 hours of invoice upload.
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Ready to take this further?
Apply online in about ten minutes, or ask a banker to call you at a time that suits.